Nifty Trades Steady, M&M On A Roll

The Indian markets have started the trading session on a steady note, with Auto and Realty shares leading the early gains. The Nifty is trading with marginal gains of 8 points at 5954 and Sensex is up by 26 points at 19,709. Both the indices are trading higher in the range of 0.13%-0.15%.

The advance-decline is on the positive side as of now. On the NSE, 732 shares are in positives and 485 shares are trading in the red.

Top 5 NSE Gainers: Ranbaxy Labs is the top gainer so far, up by 2.15%. Sun Pharma, Siemens, Mahindra & Mahindra and Coal India are the others in the list.

Top 5 NSE Losers: Sesa Goa is trading down by 1.79%, followed by Jaiprakash Associates, Hindalco Industries, Jindal Steel and Power and L&T.

Most of the sectors are trading in the green. Healthcare and Auto have gained between 0.34-0.57%. Metal and Capital Goods have dipped by 0.47%-0.58%.

Meanwhile, the Asian markets are witnessing gains. Taiwan Weighted is trading up by 53 points, Japan’s Nikkei is higher by 0.63% at 12,361.37 and the Hang Seng is up 0.44%. Shanghai Composite and KOSPI are both trading flat with a negative bias.

Buzzers: Mahindra & Mahindra has surged about 1.5% so far and is currently at Rs 918. The stock has seen a jump in volumes in today’s trades. The company has said that the decision to replace certain parts for a select batch of its XUV500 model is in keeping with its customer-centric approach as well as in compliance with the recently-announced voluntary code on vehicle recall.

Neyveli Lignite Corporation has slipped after the stock went ex-dividend. The stock is trading down by 2.34% at Rs 73.05.

After strong moves seen last week, the Nifty is trading steady this morning too. We expect the market to consolidate in the range of 5880-5960.