Stocks See Some Profit Booking
Suparna / 07 Jan 2013
The Indian equity indices opened higher in today’s trade but traders and investor are booking out profits ahead of the Q3 earnings slated to come in from this week onwards. The Nifty is at 6023 and Sensex at 19,815.
The Indian equity indices opened higher in today’s trade. However, the Nifty was not able to sustain at the higher levels as traders and investor are booking out profits ahead of the third quarter earnings that are slated to come in from this week onwards.
The Nifty opened at 6041.15, touched a high of 6042.15 and a low of 6012.50 and is currently trading down by 7 points at 6023. The Sensex opened at 19,820.56 made high of 19,856.43 and a low of 19,782.91, and is now at 19,815. Both the indices are trading up in the range of 0.12%-0.16%.
The market breadth is on the positive side in the morning trading session. On the NSE, 928 shares have advanced and 361 shares have declined.
Top 5 Gainers on NSE: Maruti Suzuki India is the top gainer, up by 2.77%, followed by Bharat Petroleum, Cairn India, Reliance Infrastructure and Sun Pharma.
Top 5 NSE Losers: Hindustan Unilever is among the highest losers, down by 0.94%. Others in the list include HDFC, L&T, ACC and UltraTech Cement.
11 out of the 13 sectoral indices are trading in the green at this hour of trade. Auto and Oil & Gas are the top performing sectors, up in the range of 0.86%-0.97%.
Among the peer Asian markets, Shanghai Composite, Hang Seng and Straits Times are trading in gains, whereas Taiwan Weighted, Nikkei 225 and Kospi are in the negative zone.
Buzzers: IGL has registered a high of Rs 261.55 and a low of Rs 256.05. The stock is currently trading up by 1.80% at Rs 257. It gained on reports that the company has raised the price of CNG by 4% due to an increase in the overall input cost of natural gas.
ING Vysya Bank opened at Rs 558 and saw a high of 573.90. It is now trading firmly at Rs 566. The stock surged after the private sector bank said that the RBI has given its approval for an increase in investment limit by FIIs under the portfolio investment scheme (PIS) from 24% to 30% of the paid-up capital of bank.
The Nifty is expected to consolidate in the range of 5940-6050 ahead of the third quarter earnings results. Strong resistance stands at 6050 and the immediate support is at 5980.
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