Markets Trade Marginally High Ahead Of RBI Policy Meet
Suparna / 19 Mar 2013
The Indian markets have opened on a marginally higher note taking positive cues from the global markets, led by rate sensitive shares ahead of the Reserve Bank of India’s monetary policy review today. We expect a major move in the markets post RBI policy.
The Indian markets have opened on a marginally higher note taking positive cues from the global markets, led by rate sensitive shares ahead of the Reserve Bank of India’s monetary policy review today. We expect a major move in the markets post RBI policy.
In the morning trading session at 10:00 AM, Nifty is trading with marginal gains of 10 points at 5846 and Sensex is trading at 19,338, up by 45 points. Both indices are trading up in the range of 0.18% to 0.24%.
The advance-decline ratio is on a positive side in the morning trading session. On the NSE, 674 shares are trading in green and 466 shares are trading in red.
Top 5 NSE Gainers: Bajaj Auto is the top gainer on NSE, trading up by 1.96%, followed by GAIL, Sun Pharma, ICICI Bank and IDFC.
Top 5 NSE Losers: Coal India is trading down by 1.77% and is among the top losers on NSE, followed by Tata Consultancy Services, BHEL, Cairn India and ONGC.
Among the sectoral indices on the NSE, 8 out of 13 sectors are trading firm in the morning trade. Realty, Auto and Bankex are trading firm in the morning trading session. Metals and PSU puts pressure on the index and is trading lower in the range of 0.23%-0.25%.
In Asia this morning, the markets are trading firm. Japan’s Nikkei 225 is trading higher by 1.92% at 12,460. KOSPI, Straits Times, Taiwan Weighted and Hang Seng are trading positive.
Buzzers: Manappuram Finance lost about 12% in today’s trade. The stock opened at Rs 34 and registered a low of 29.65. It has seen a fall over heavy volumes.
The stocks of Sun Pharma hit a new 52-week high in today’s trade. It has outperformed the market. The scrip is trading at Rs 845 with gains of more than 1% in a lacklustre market.
Nifty has strong support around the levels of 5805-5810. As long as it holds this level, we expect a minor pullback.
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