Markets Trading Flat, Positive; Tata Motors Gains On Ratings Upgrade

The Indian markets began the day on a flat note with a positive bias ahead of the third quarter earnings results and the industrial output data for Nov 2012, both of which are due on Friday, Jan 11. The Nifty opened at 6006.20, touched a high of 6015.55 and a low of 6005.20, whereas the Sensex opened at 19,770.21, saw a high of 19,808.06 and a low of 19,765.66. As of now, the Nifty is trading up by 9 points at 6010 and Sensex is up by 52 points at 19792. Both indices are trading up in the range of 0.17%-0.27%.

The advance-decline ratio is in favour of the bulls in the morning trading session. On the NSE, 884 shares have advanced and 398 shares have declined.

Top 5 NSE Gainers: Tata Motors is the top gainer, trading up by 3.41%, followed by Bharat Petroleum, Bharti Airtel, Reliance Industries and Sun Pharma.

Top 5 NSE Losers: ITC is among the highest losers on the NSE, down by 0.95%. Other losers include UltraTech Cement, HDFC, Axis Bank and Reliance Infrastructure.

11 out of the 13 sectoral indices are trading strong at this hour of trade. Realty and Auto are the top performers, up by 1%-1.21%.

Most of the Asian markets are trading in the green. Nikkei 225 is trading up by 0.66%, followed by Hang Seng, Straits Times and Shanghai Composite. KOSPI is lower by 0.19%.

Buzzers: Tata Motors has touched its new 52-week high in today’s trades and is now trading up by 3.44% at Rs 325. The stock has witnessed an up-move on reports that global research firms CLSA and Credit Suisse have upgraded their ratings on it.

Chemfab Alkalis has hit the upper circuit of 19.95%. It has seen an up-move on the back of outstanding third quarter results for the company. The stock has witnessed a spike in volumes - its 5-days’ average volumes stand at 10792, whereas today’s volumes are at 147577, marking a rise of more than 1000%.

The Nifty has a hurdle of 6020. If it sustains above 6020, it may touch the 6050 levels. Support for the index stands at 5970.