Sensex Up By 100 Points, Realty Shares On Fire
Suparna / 06 Mar 2013
The Indian markets are consolidating in the range of 5710-5730 in the late morning trade today with significant buying witnessed in rate sensitive sectors like Real Estate, Banks and Automobiles. At 12:10 PM, Nifty is trading at 5817 and Sensex is trading at 19,255. Both the indices are trading up in the range of 0.57% to 0.59%.
The Indian markets are consolidating in the range of 5710-5730 in the late morning trade today with significant buying witnessed in rate sensitive sectors like Real Estate, Banks and Automobiles. In the afternoon trading session at 12:10 PM, Nifty is trading with gains of 33 points at 5817 and Sensex is trading at 19,255, up by 112 points. Both the indices are trading up in the range of 0.57% to 0.59%.
The advance-decline ratio is on a positive side in the afternoon trading session. On the NSE, 1038 shares are trading in green and 333 shares are trading in red.
Top 5 NSE Gainers: Jaiprakash Associates is the top gainer on NSE, trading up by 4.39%, followed by Bank of Baroda, DLF, L&T and Siemens.
Top 5 NSE Losers: Ambuja Cement tumbles down to trade down by 1.16% and is among the top losers on NSE, followed by Hindustan Unilever, GAIL, Mahindra and Mahindra and Bharat Petroleum.
Among the sectoral indices, most sectors are trading in green. Realty, Metal and Consumer Goods are trading higher in the range of 1.88%-4.99%. FMCG is the only sector trading in red.
Meanwhile, the Asian markets are trading in green. Japan’s Nikkei 225 registered a new high, now trading at 11,932 up by 2.09%. Strait Times gained 1.07%, followed by Hang Seng and Shanghai Composite.
Buzzers: Stocks of Real Estate companies have surged up to 12% over heavy volumes on hopes of cooling inflation, which will force the RBI to cut the repo rate at its policy meeting later this month. HDIL, Sobha Developers, Oberoi Realty, India Bulls Real Estate and DB Realty have rallied more than 5%.
Uttam Galva Steel is locked in an upper circuit of 5% at Rs 72.55 with no seller on the counter after the company announced that it is planning to raise about Rs 175 crore through placement of shares for fund expansion and supplementing the long term-resources.
Nifty is facing a stiff resistance around the levels of 5830-5840, if it sustains above these levels, we can see levels of 5880 in the forthcoming trading session.
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