Trades Continue To Be Volatile, Positive

As expected in our morning update, the Indian markets opened trades on a flat, positive note today. At present, the Sensex and Nifty are trading up with marginal gains of 0.19% and 0.03% respectively. Investors are cautious ahead of the Federal Reserve's meeting today.

The Oil & Gas index is trading in the green zone, higher by over 0.84%. CG, PSU, Auto, Bankex and IT are also up in the range of 0.06% to 0.69%.. Among the major losers, Pharma, CD, Metals and Power are trading down by 0.75%, 0.39%, 0.33% and 0.14% respectively.

The other Asian markets are trading on a mixed note. Hang Seng and Nikkei are trading higher by 0.04% and 0.60% respectively, while Shanghai is down by 0.49%.

Back home, Oil & Gas stocks are currently among the leading gainers. Major companies like ONGC, Oil India, HPCL, GAIL India and HPCL are trading higher by nearly 1% each. Petronet LNG, RIL and Indian Oil Corp up by 2.46%, 0.73% and 0.79% respectively.

Among individual stocks, Neyveli Lignite is trading higher by 2.93% at Rs 80.90 post the news that the government is planning to divest 5% stake in the company.

On the other hand, Sesa Goa is down by 1.41% to Rs 160.30 after the news that the Union Ministry of Environment and Forests (MoEF) has suspended environmental clearance of 93 mines in Goa. The has major mining operation in the state, which contributes 85% of the its revenues.

The market breadth, which indicates the overall health of the market, is positive at the moment. On the BSE, 1039 shares have advanced, 792 shares have declined and 83 shares are unchanged.