Indices Rally Strongly

The Indian benchmark indices have opened firm on the back of strong global cues. The Nifty is trading up by 28 points at 6027, and Sensex is higher by 92 points at 19,873. Both indices are trading up in the range of 0.47%-0.49%.

The advance-decline ratio is on the positive side this morning. On the NSE, 812 shares are up and 395 shares are in the red.

Top 5 NSE Gainers: Tata Motors is the top NSE gainer, up by 3.20%, followed by UltraTech Cement, ICICI Bank, Asian Paints and Hindalco Industries.

Top 5 NSE Losers: Cipla is trading down by 1.22%. Others in the list include Ranbaxy Labs, Dr Reddy’s Labs, IDFC and Coal India.

9 out of the 13 sectoral indices are trading firm so far. Realty has seen good momentum, up by 1.88%, followed by Bankex. Healthcare and FMGC are trading weak between 0.17%-0.27%.

The key Asian markets are trading higher. Taiwan Weighted has gained 0.82%, followed by Straits Times, Shanghai Composite, Hang Seng and Nikkei 225, all in positives.

Buzzers: OnMobile Global has surged more than 4% to Rs 42.65. It has reported 16% YoY growth in its consolidated net profit, which stands at Rs 20.64 crore in Q3FY13 against Rs 17.80 crore in the year ago quarter. In the September 2012 quarter, the company had seen a profit of Rs 6.22 crore.

IFCI has surged by 5% as yet to Rs 36.45. It is witnessing heavy volumes on reports that the government plans to dilute its stake in the company through a strategic sale.

After a minor correction in the last trading session, the Nifty has bounced back. Going ahead, the index has strong support of 6010 and resistance at 6040.