Markets Near Intraday High With Healthy Gains In Metal And Realty

The benchmark equity indices are currently trading near the intraday high. In afternoon trading session the Nifty is trading at 5957 up by 52 points and the Sensex is trading at 19,603 up by 177 points. The appreciation in these broader indices is between 0.89% and 0.91%.

The market breadth continues to remain positive. On the NSE, 1058 shares have advanced and 349 shares have declined.

On the sectoral front, all of the 13 indices are trading in the green. METAL and REALTY are the top performing sectors and are trading higher in the range of 1.75% and 2.25%.

The markets are not picking any cues from Asian peers as markets are shut on account of New Year’s Day.

Top 5 Gainers on NSE: Reliance Infrastructure extended it morning gains and is now trading up by 4.59%. Among other gainers on the NSE are Jindal Steel and Power, Punjab National Bank, Tata Steel and Hindalco Industries.

 Top 5 losers on NSE: Power Grid Corporation is among the top losers on NSE. It is trading lower by 0.65%. Following in the list of top losers are ONGC, Hero Moto Corp, Kotak Mahindra Bank and ACC.

Buzzers: DENA BANK is trading at intraday high of 118.30. The stock opened at Rs 116.65 per share and touched a low of Rs 115.65 per share. The scrip clocked a volume of 21 lakh shares as compared to 12 lakh shares in previous trading session.

Indian Overseas Bank is trading at Rs 90 a piece, up by 4.85%. The stock prices have appreciated as its board approved a fund raising plan via right issue or private placement.

The Nifty is nearing its crucial resistance level of 5965. If it sustains this level and manages to stay above 5965, we may see strong momentum in the market.