Market Trends Up, BPCL Gains 4.5%

The benchmark index for Indian equities market started the day on a positive note, and the markets have been trending up thereafter. The Nifty is trading up by 40 points at 5909 and Sensex is up by 120 points at 19,443. Both Nifty and Sensex are trading up in range of 0.57%-0.63%.

The Nifty opened at 5887.15, and registered a high of 5909.75 and a low of 5881.80. The Sensex opened at 19.364.08, after which it saw a high of 19,445.04 and a low of 19,346.07.

The market breadth, which indicates the strength of the market, is positive at this hour of trade. On the NSE, 931 shares have advanced and 328 shares have declined.

Top 5 NSE Gainers: BPCL is the top gainer on the NSE, trading up by 4.52%. ONGC, Hindalco Industries, Maruti Suzuki India and Ambuja Cement are the other highest gainers.

Top 5 NSE Losers: Bharti Airtel is among the highest losers, down by 0.52%, followed by Axis Bank, SBI, HDFC Bank and Dr Reddy’s Labs.

All the sectoral indices are in currently in the green. Oil & Gas, Power and PSU are the sectors showing the strongest performance, up in range of 0.95%-1.5%.

Among the other Asian markets, Japan’s Nikkei 225 has hit a 21-month high, trading up by 0.77% at 10,403.48. Taiwan has gained 0.44% and Shanghai Composite is higher by 0.33%. Straits Times is trading flat with a negative bias.

Buzzers: The Bharti Infratel scrip has been listed at a discount. The stock is trading at Rs 196, down by 11% at this hour of trade.

BPCL is trading up by 4.52% at Rs 360 along with a spike in volumes. The stock hit an intraday high of Rs 362 and a low of 345.20. It has gained on hopes that the government may increase the prices of diesel and kerosene by Rs 10 per litre.

Ahead in the day, we expect the Nifty to trade in a positive zone. The resistance for the index stands at 5940-5965 and support at 5871 and 5820.