Markets Trading Volatile, IT Surges More Than 1%

The Indian markets have started the week on a cheerful note, tracking strong global cues. Post a positive start, the market is trading volatile ahead of the Rail budget, the Union Budget and F&O expiry, which are all due in a few days. In the morning trading session at 10:00 AM, Nifty is trading flat at 5950 and Sensex is trading at 19,315. Both the indices are trading marginally down in the range of 0.03% to 0.04%.

The advance-decline ratio is on a positive side in the morning session. On the NSE, 670 shares are trading in green and 474 shares are trading in red. 

Top 5 NSE Gainers: Ranbaxy Labs is the top gainer on NSE, trading up by 4.22%, followed by Power Grid, Tata Motors, Wipro and Infosys. 

Top 5 NSE Losers: Bharat Petroleum is trading down by 1.75% to be the top loser on NSE, followed by UltraTech Cement, DLF, Cipla and ONGC.

Among the sectoral indices on the NSE, 6 out of 13 sectors are trading firm in the morning trade. IT and Teck have shown a good momentum and are trading higher in the range of 0.97%-1.14%. On the flip side, Oil & Gas and Realty are under pressure. 

The Asian markets are trading firm. Japan’s Nikkei 225 is trading higher by 1.89% and is trading at 11,605.81, followed by Shanghai Composite, Strait Times and Hang Seng. 

Buzzers: Ranbaxy Labs has surged up by 4.23%, and is trading at Rs 431. The stock gained after HSBC raised its rating on the shares of Ranbaxy to ’overweight’ from ’underweight’ after the Indian drug-maker said it would resume production of a generic version of cholesterol fighter Liptor for sale in the United States. 

Shares of financial services firms surged after the Reserve Bank of India announced guidelines for banking license last week. RBI’s announcement paves the way for India’s first new banks since the formation of Yes Bank in 2004. M&M Financial gained 5.48% and is trading at 209.85.

Nifty is trading volatile in the first hour of trade, 5820 will be the crucial support level for Nifty.