Bulls In Full Swing With Support From Auto And IT
Suparna / 13 Feb 2013
The Indian markets have opened in green this morning over strong global cues. Bulls have shattered the bears for a second day in the opening trading session. In the morning session Nifty is trading at 5960 and Sensex is trading at 19,698. Both the indices are trading down in the range of 0.66% to 0.70%.
The Indian markets have opened in green this morning over strong global cues. Bulls have shattered the bears for a second day in the opening trading session. In the morning session at 10:10 AM, Nifty is trading with gains of 38 points at 5960 and Sensex is trading at 19,698 up by 136 points. Both the indices are trading down in the range of 0.66% to 0.70%.
The advance-decline ratio is extremely positive in the morning trading session. On the NSE, 863 shares are trading in green and 367 shares are trading in red.
Top 5 NSE Gainers: Tata Motors is the top gainer on NSE, trading up by 3.12%, followed by HCL Technologies, Jaiprakash Associates, HDFC and TCS.
Top 5 NSE Losers: Hindustan Unilever is trading down by 64% and is among the top losers on NSE, followed by Jindal Steel and Power, Bharat Petroleum, Lupin and Reliance Infrastructure.
Among the sectoral indices on the NSE, 12 out of 13 sectors are trading firm in the morning trade. Auto, IT, TECk and Realty are in a good momentum in the early hours of trade, trading higher by 1% or more. On the flip side, FMCG is trading in red.
Most of the Asian markets are trading in green. KOSPI is trading higher by 1.41%, followed by Strait Time. Nikkei 225 is trading lower by 1.14%. Shanghai Composite and Hang Seng markets are closed.
Buzzers: Tata Motors surged by about 3% trading at 307.5 in early trade on Wednesday after the automobile giant said JLR sold 34,877 vehicles during the first month of 2013 with an increase of 32% versus the same period last year.
HCL Technologies extends it yesterday’s 2% gain is trading up by 2.86% at Rs 698. The stock has touched an intraday high of 701.60. It has seen a good long built after a bulk deal and is trending up from the past two trading sessions.
As we mentioned in the last note that the bulls will hold on the level of 5880 and will bounce back, the Nifty has seen a bounce back of more than 60 points. Going forward, the levels of 5990 will be an important resistance and the support now shifts to 5930.
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