Nifty Touches Two-Year High

The Indian equity indices continue to trend up for the day, with the Nifty touching the magical 6000 mark and marking a new high of 6006.05. The Nifty is currently trading up by 46 points at 5997 and the Sensex is up by 140 points at 19,720. Both indices are trading up in a range of 0.71%-0.76%.

The market breadth remains on the positive side. On the NSE, 981 shares have advanced and 302 shares have declined.

Top 5 NSE Gainers: Jaiprakash Associates continues to lead the gainers’ list, trading up by 2.79%. This is followed by BHEL, Bajaj Auto, Bharat Petroleum and IDFC.

Top 5 NSE Losers: Wipro is among the top losers, down 0.93%. Others include Coal India, Tata Consultancy, Hindustan Unilever and ITC.

12 of 13 the sectoral indices are still trading in the green. CG and Oil & Gas are the highest gainers up in range of 1.24%-1.60%. FMGC is witnessing some selling pressure and is the only sector trading negative, lower by 0.15%.

The Asian indices have taken off with the end of the US fiscal cliff crisis. All the Asian markets are higher. The Hang Seng is the top gainer at 23,249.61 (up by 2.55%), followed by KOSPI and Straits Times.

Buzzers: PC Jeweller is trading up by 7% at Rs 177. The stock has touched its new 52-week high in today’s trade. It has seen a spurt in volumes, witnessing a total of 10176449. The stock has rallied more than 35% after being listed on the NSE.

Axis Bank touched an intraday high of Rs 1394.40 and a low of Rs 1366.65. The stock touched its new 52-week high in today’s trade. It has outperformed the market in the last one quarter, jumping more than 20%.

Nifty has breached a psychological barrier. If the index sustains and closes above 6015, it may touch the 6050 level.