After Dow’s 52-Week High, Nifty Opens Positive

The Indian markets opened on a positive note after the US markets closed on a 52-week high yesterday. The markets are trading in a narrow range in the morning trade. Nifty opened with a positive bias of 15 points at 5799 and Sensex is trading 63 points higher at 19,200. Both the indices opened up in the range of 0.38%-0.30%.

The advance-decline ratio is in a positive zone in the morning session. On the NSE, 907 shares are trading in green and 307 shares are trading in red. 

Top 5 NSE Gainers: Wipro is the top gainer on NSE, trading up by 2.4%, followed by Bank of Baroda, L&T, JP Associates, and DLF.

Top 5 NSE Losers: Ambuja Cement is the top loser on the NSE, trading down by 1.6 %, followed by HUL, GAIL, and Maruti Suzuki.

All the sectors are trading in green apart from Consumer Durables and FMCG.

On the global front, the Asian shares are trading in a positive mood. Hang Seng is trading positive by 195 points. Taiwan Weighted is up by 38 points and Shanghai Composite is up by 8 points while Nikkei 225 is up by 228 points. 

Buzzers: Wipro is trading up by 2.4% at Rs 444. The stock is gaining good volumes and has been holding a positive sentiment since yesterday’s closing session. Having a big hurdle at 449, we will see further moves once this is crossed.

L&T saw a good momentum in the last few trading sessions. The stock opened on a positive note, up by 1.8% and is trading at 1428. The stock broke its first hurdle at 1410. We can now see a good move for the next trading days.

The levels 5855-5880 will be good hurdles for Nifty. Its final support is at 5760. If it breaks this and closes below this level, we may see a further downfall after this level.