Markets Take U-turn, Trend Up

The Indian markets have opened higher on Wednesday after closing in the red for four consecutive trading sessions, over strong global cues. In the morning trading session, Nifty is trading up by 21 points at 5975 and Sensex is trading up by 54 points at 19,714. Both the indices are trading up in the range of 0.29% to 0.33%.

The advance-decline ratio is in a positive zone in the morning trading session. On the NSE, 854 shares are trading in green and 360 shares are trading in red. 

Top 5 NSE Gainers: Bank of Baroda is the top gainer on NSE, trading up by 2.29%, followed by IDFC, Maruti Suzuki, Tata Power and Tata Steel. 

Top 5 NSE Losers: Hindustan Unilever, extending its previous day loss, is trading down by 1.40% and is among the top losers on NSE, followed by NTPC, Siemens, Hero Motocorp and Ranbaxy Labs.

All the sectors are trading in green. Realty, Metal and Consumer Durables are trading firm up in range of 0.80%-1.57%.

On the global front, the Asian shares are trending up. Nikkei 225 has surged more than 3%, followed by Hang Seng and Taiwan Weighted. Shanghai Composite is trading flat with a negative bias. 

Buzzers: Kotak Mahindra Bank has hit a fresh 52-week high. The stock is trading up by 1.08% at Rs 688. The private sector lender Kotak Mahindra said on Tuesday that it has acquired the business loans portfolio of the Indian arm of Barclays. With this acquisition, the bank will have an additional 6000 customers with a total loan outstanding of about Rs 700 crore.

Amrutanjan Healthcare has seen a good momentum in the morning trade and is trading up by 7% at Rs 152. The stock has been an under-performer since the past one month or so. It has seen a good volume of build-up in the morning trade. 

The levels of 5940-5950 will be a laxman rekha for Nifty. Once this level is breached, we may see levels of 5900.