A Climb-Back By The Markets

The Indian markets, which saw a steady trade in the morning session, picked up some pace in the afternoon session. At 12:45 PM, Nifty is trading down by 14 points at 5901 and Sensex is trading at 19,522, up by 52 points. Both the indices are trading down in the range of 0.24% to 0.27%.

The advance-decline ratio is on a positive side in the afternoon trading session. On the NSE, 849 shares are trading in green and 522 shares are trading in red. 

Top 5 NSE Gainers: DLF extends its morning gains and is trading up by 4.83% to be the top gainer on NSE, followed by Jaiprakash Associates, Power Grid, Reliance Infrastructure and HDFC.

Top 5 NSE Losers: Coal India is trading down by 1.96% and is among the top losers on NSE, followed by Jindal Steel and Power, Axis Bank, Dr Reddy’s Labs and Ambuja Cement. 

From the sectoral pack, Realty is trading higher by 2.35% and Consumer Goods is trading up by 0.80%. IT and TECk are under a selling pressure and are trading in the negative zone.

The Asian markets are trading mixed. Nikkei 225 is trading up by 2.05% at 11,407, followed by Taiwan Weighted and KOSPI. Shanghai Composite, Hang Seng and Strait Times are marginally down. 

Buzzers: KPIT has shot up by 6% and is now trading at 112.5. The stock opened flat to hit a low of Rs 105.5 and a high of 114.90. It has witnessed a good volume in today’s trading session as compared to the earlier trading sessions.

DLF is trading higher by 5.45% at Rs 262.5. The stock gained after CLAS upgraded the realty major to “outperform” from “sell” earlier citing a debt-reduction plan to boost earnings in the near future.

We had earlier suggested that Nifty may touch 5910 if it sustains 5880, and Nifty is now trading above 5900. Going ahead, 5930 will act as a stiff resistance.