Trades Shift Gear, Trend Up
Suparna / 26 Dec 2012
After a sluggish first hour of trade, the Indian markets shifted their gear in the afternoon session and are now trading at an intraday high. The Nifty is trading at 5912, up by 57 points, and Sensex is 188 points higher at 19,441.
The Indian markets saw a sluggish first hour of trade, where they moved in a tight range of 10-15 points. In the afternoon session, the markets shifted their gear and are now trading at an intraday high. The Nifty is trading at 5912, up by 57 points, and Sensex is 188 points higher at 19,441. Both the Nifty and Sensex are trading up in range of 0.85%-0.95%.
After opening at 5865, the Nifty registered a high of 5917.30, which is a weekly high for the index. The Sensex opened at 19,302.47, and then touched a high of 19,468.40 and a low of 19,274.07.
The overall market breadth is strong as of now. On the NSE, 889 shares have advanced, while 505 shares have declined.
Top 5 NSE Gainers: Bharti Airtel the is top gainer on the NSE, up by 2.62%, followed by Bajaj Auto, Jaiprakash Associates , Sun Pharma and ICICI Bank.
Top 5 NSE Losers: Hindustan Unilever is top loser, trading lower by 1.44%. This is followed by Wipro, Hero MotoCorp, Infosys and TCS.
As many as 12 out of the 13 sectoral indices are trading higher. CG, Realty and Bankex were among the best performing sectors in the afternoon trading session, up in the range of 1.35%-1.65%. IT is the lone sector trading in negatives, down by 0.15%.
Most of the Asian markets are trading in higher. Japan’s Nikkei 225 top gainer is trading up by 1.49% at 10,230.36. Taiwan Weighted is trading flat with a negative bias at 7634.
Buzzers: Bajaj Finserv is trading up by 2.5% at Rs 910. The stock touched a high of Rs 920 and made a low of Rs 880. A block deal of 5.13 lakh shares was executed at Rs 900 per share (10:45 IST) followed by another block deal of 2.76 lakh shares (10:46 IST). The block deals constitute 0.49% of its total equity shares.
Glenmark Pharma touched a new 52-week high along with a rise in volumes. The stock saw a 52-week high of 547.40 on the NSE, clocked with higher than average volumes.
The Nifty has crossed its major hurdle of 5900, and is now consistently trading above 5900. The short-term trend looks bullish, where the major support stands at 5820 and resistance at 5940.
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