Markets Trading With Marginal Gains

The Indian market opened flat ahead of the Bank of Japan monetary policy’s outcome later today. Nifty opened at 6080.15, touched a high of 6093.85 and a low of 6078.80, and is currently trading up by 10 points at 6092. The Sensex opened at 20,102.43, saw a high of 20,133.58 and a low of 20,090.22, and is now trading higher by 19 points at 20,120.50.

The advance-decline ratio is strong in morning trading session. On the NSE, 391 shares have advanced and 245 shares have declined.

Top 5 NSE Gainers: Asian Paints is the top gainer on the NSE, trading up by 2.92%, followed by NTPC, Sun Pharma, Jaiprakash Associates and ACC.

Top 5 NSE Losers: GAIL is among the top losers, down by 2.18%, followed by HCL Technologies, ITC, Tata Motors and Hero MotoCorp.

9 out of 13 sectoral indices are trading firm in morning trading session. Power and Bankex is trading up by 0.68%-0.70%  and are the top gainers, while CD is the highest loser.

The Asian Markets are trading in a mixed pattern. Taiwan Weighted, Hang Seng, Kospi and Shanghai Composite are trading up in range of 0.09%-0.31%. Nikkei 225 and Straits Times are trading down in range of 0.04%-0.49%.

Buzzers: Pantaloon Retail India is trading up by 9% at Rs 265. Stock gained after the RBI eased restrictions on the purchase of shares in the company by foreign institutional investors and by non-resident Indians as well as persons of Indian origin.

Asian Paints has surged almost 4% to Rs 4340 after reporting 30.5% YoY growth in consolidated net profit at Rs 335 crore for the quarter ended Dec 31 due to an improved demand condition during the Diwali season.

Nifty is hovering around its crucial resistance level of 6090. A sustained move above 6090 can give it a fresh breakout.