Markets Trading Higher, All Sectors In Green

The markets opened sideways, but are now trading on a positive note. At present, both the indices are trading in the positive territory, with the Sensex up 110 points at 17373 and Nifty up by 29 points at 5286. All the sectors are trading in the green zone, with Realty and Capital Goods being the major gainers, both up more than 1%. Other sectors like FMCG, Teck and IT are among those that are marginally in the green zone.

On the other hand, the Asian markets are trading on a weak note. The Japanese market is closed today. Hang Seng and Shanghai are trading lower down by 0.73% and 0.77% respectively. The Asian markets are trading weak, with China raising fuel prices for the second time in less than six weeks.

Back home, Sterlite Industries is the leading index gainer, up 2.23% to Rs 116.65. Capital Goods heavyweight, BHEL, saw some buying opportunity after yesterday’s fall. The stock is up 1.77% at Rs 264.90. Stocks like DLF, Reliance Industries, Sun Pharma, TCS, etc. are among those that are trading higher by more than 1%. Wipro, GAIL India, Bharti Airtel, etc. are trading marginally in the green zone. On the other hand, Auto stocks like Maruti Suzuki, Hero MotoCorp and Bajaj Auto are trading weaker down by almost 1%. Others like Cipla, ITC, ONGC and Infosys are trading marginally in the red zone.

Amtek India is up 1.12% to Rs 99.35 after the news that the company has raised USD 13 crore, 6% Foreign Currency Convertible Bonds (FCCB). NTPC is up 0.90% to Rs 173.25 after it signed a loan facility of USD 100 million with Mizuho Corporate Bank.

The market breadth, which indicates the overall health of the market, is strong. On the BSE, 909 shares rose and 489 shares declined. 55 shares remained unchanged.

In conclusion, we expect the market to remain volatile for the day.