Markets Continue Up-move

The Indian markets opened on a positive note as the Asian markets were trading in a green zone in the morning. The Nifty opened with a positive bias of 25 points at 5934 and Sensex opened up by 62 points at 19,630. Both the indices opened up in the range of 0.43%-0.32%.

The advance-decline ratio is in on the positive side in the morning trading session. On the NSE, 826 shares are trading in green and 430 shares are trading in red. 

Top 5 NSE Gainers: IDFC is the top gainer on NSE, trading up by 3.2%, followed by Siemens, HDFC, Hindalco, and BPCL.

Top 5 NSE Losers: Tata Motors is the top loser trading down by 1.2 %, followed by ICICI Bank, DLF, HDFC Bank, and Maruti Suzuki.

All sectors are trading in green apart from Banks, Auto is up by 2 points, Oil and Gas is up by 73 points, Metals is up by 85 points and FMCG is up by 19 points. Consumer Durables is up by 113 points.  

On the global front, the Asian shares are trading in a positive mood. Hang Seng is positive by 170 points, Taiwan Weighted is up by 11 points and Shanghai Composite is up by 37 points. The Nikkei 225 market is up by 162 points. 

Buzzers: Siemens is trading up by 3.3% at Rs 556. The stock is gaining strength and trading above its hurdle level of Rs 550 in the morning session. Having good support on this level, we will see further moves after this level is surpassed. 

BPCL saw a good momentum in the last few trading days. The stock opened on a positive note up by 2.3% and is trading at Rs 406. The stock is having a good support on 395. We can see a further up-move from this level. 

The levels of 5890-5870 will be the limit for Nifty. Its major hurdles will be 5970. If this breaks and it closes above this level, we may see a further up-move after this level.