Bulls Welcome The New Year

The benchmark indices for Indian equities started the first day of 2013 on a positive note and are now extending their gains. The Nifty opened at 5937.65, touched a high of 5952.30 and a low of 5935.20, and is trading up by 46 points as of now. The Sensex opened at 19,513.45, after which it saw a high of 19,588.46 and a low of 19,508.93. Currently, the index has up gained 159 points and is trading at 19,585. Both indices are higher in the range of 0.79%-0.82%.

The market breadth is on the positive side. On the NSE, 977 shares have advanced and 256 shares have declined.

Top 5 NSE Gainers: Reliance Infrastructure is the top gainer on the NSE, trading up by 3.16%. This is followed by Hindalco Industries, Jindal Steel and Power, Jaiprakash Associates and SBI.

Top 5 NSE Losers: Wipro is among the top losers on NSE, lower by 0.66%. Others in the list include ONGC, Bharat Petroleum, Dr Reddy’s Labs and Hero MotoCorp.

All the sectoral indices are trading higher. Realty and Metals are seeing the best performance at this hour of trade, up in the range of 1.33%-1.75%.

As for the Asian markets, most of the benchmark indices are closed on account of the new year holiday.

Buzzers: Petron Engineering registered an intraday high of Rs 153 and a low of Rs 135, and is now trading up by 12%. The company has received a Rs 42 crore order from Madras Cements.

Tulip Telecom is trading up by 4.89% at Rs 34.30. The stock surged on news that its board has approved the CDR system for restructuring of its debt.

The Nifty is trading above its resistance level of 5935. Going ahead, the resistance stands at 5965 and if it sustains above these levels, the index may touch the magical level of 6000. Support stands at 5888 and 5750.