Markets Gaining Momentum
Suparna / 12 Feb 2013
The Indian markets started on a positive note with the markets trading in a narrow range. In the afternoon trading session, Nifty is trading at 5909 and Sensex is trading at 19,522. Both the indices are trading up in the range of 0.23% to 0.32%.
The Indian markets started on a positive note with market trading in a narrow range. The market posted the December Index of Industrial Production (IIP), which came in at negative 0.6%, and went down in a flash as the numbers reflected sluggishness in the economy. In the afternoon trading session at 12:30 AM, Nifty is trading with marginal gains of 10 points at 5909 and Sensex is trading at 19,522 up by 60 points. Both the indices are trading up in the range of 0.23% to 0.32%.
The advance-decline ratio is on the negative side in the afternoon session. On the NSE, 949 shares are trading in red and 407 shares are trading in green.
Top 5 NSE Gainers: ONGC is the top gainer on NSE, trading up by 2.46%, followed by HCL Technologies, Bharti Airtel, Sun Pharma and Bajaj Auto.
Top 5 NSE Losers: Jai Prakash Associates is trading down by 3.64% and is among the top losers on NSE, followed by Jindal Steel and Power, Infosys and IDFC.
Among the sectoral indices on the NSE, 8 out of the 13 sectors are trading firm in the afternoon session. Oil & Gas and Consumer Durables have shown momentum and are trading higher in the range of 0.37-1.11%. On the flip side, Realty and IT are trading down in range of 0.65-3.47%.
On the global front, most of the Asian markets are closed on account of holiday. Nikkei 225 is trading higher by 1.90%.
Buzzers: Stocks of Unitech and DR Realty have tanked down by more than 15% in today’s trade over heavy volumes. Unitech is trading down by 16% at Rs 29.15 and registered a low of Rs 26.30 on NSE on reports that the Central Bureau of Investigation (CBI) suspects its own prosecutor of aiding Unitech Managing Director Sanjay Chandra, who is also one of the accused in the 2G case.
Dishman Pharma tanked down by more than 5% and is trading at Rs 88. The stock went down after reporting 62% YoY drop in its standalone net profit at Rs 5.75 crore for the third quarter due to higher finance costs.
Nifty has a strong support of 5880, whereas resistance for Nifty stands at 5930.
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