Markets Maintain Upward Movement

The Indian markets continued to trade in green in the noon session. In the afternoon trading session at 12:30 AM, the Nifty is trading firm with gains of 35 points at 5958 and Sensex is trading at 19,680 up by 118 points. Both the indices are trading up in the range of 0.59% to 0.60%.

The advance-decline ratio is on the positive side. On the NSE, 822 shares are trading in green and 522 shares are trading in green. 

Top 5 NSE Gainers: HCL Technologies is the top gainer on the NSE, trading up by 3.52%, followed by Tata Motors, IDFC, Tata Consultancy Services and Jaiprakash Associates.

Top 5 NSE Losers: Bajaj Auto is trading down by 1.43% and is among the top losers on NSE followed Reliance Infrastructure, Dr Reddy’s Labs, DLF and Lupin.

Among the sectoral indices on the NSE, 10 out of 13 sectors are trading firm in the afternoon session. Realty, IT and Teck indices gained more than 1%, followed by Auto, Consumer Durables and Oil & Gas indices, up in the range of 0.60-0.90%. FMCG, Metal and power are trading in red. 

On the global front, the Asian peers are trading mixed. Strait Times is trading up by 0.90% and Nikkei 225 is trading down about 1%. 

Buzzers: Motherson Sumi Systems, an auto ancillary company, surged more than 5% on Wednesday after the board of Directors approved qualified institutional(QIP) of up to 4.4 crore shares. Even the earnings reported by the company were better-than-expected on the operational front driven by strong growth in standalone and at Samvardhana Motherson Reflectec (SMR). 

Bharti Airtel has gained more than 1.5% in today’s trade. The stock has touched its weekly high and has shown an up move with good volumes. The scrip, yesterday, formed a positive candlestick after a steep fall. 

Nifty is trading comfortably above 5950. For a further up move it needs to cross its first hurdle of 5970.