Markets Trading Firm, Realty Stocks Shine
DSIJ Intelligence / 25 Mar 2013
Trades have remained firmly positive this afternoon. The Nifty is trading at 5694 and Sensex is at 18,867. Realty and banking shares have gained after the FM's statement that India will ease restrictions for FIIs in government and corporate bonds.
The Indian markets have continued to trade firm in the afternoon session. Realty and banking shares have gained after Finance Minister P Chidambaram said on Saturday that India will ease restrictions for Foreign Institutional Investors (FIIs) in government and corporate bonds next month. The 50-share Nifty index is trading below the 5700 level at 5694 and Sensex has gained 132 points to trade at 18,867. Both indices are trading up in the range of 0.70%-0.75%.
The advance-decline ratio is on the positive side this afternoon. On the NSE, 817 shares are trading in positives and 566 shares are in the red.
Top 5 NSE Gainers: DLF is leading today gainers list on the NSE, up by 5.76% so far. ONGC, Jaiprakash Associates, Bharat Petroleum and Reliance Infrastructure are among the others trading in green.
Top 5 NSE Losers: Asian Paints is among the top losers at the moment, down by 0.94%, followed by Hero MotoCorp, Infosys, ITC and HCL Technologies.
10 of the 13 sectoral indices are trading in the green as of now. Realty and PSU are among the gainers, while IT, FMGC and Teck are trading flat with a negative bias.
The Asian markets are edging higher. Nikkei 225 is up by 1.66% at 12,546, KOSPI is trading higher by 1.46%, followed by Taiwan Weighted, Hang Seng and Shanghai Composite.
Buzzers: Aarti Drugs is locked in a lower circuit of 10% the on NSE at Rs 168.30, with no buyers in the counter. This was after the pharma company reported an accident at its factory unit situated at Tarapur, Thane on March 22, 2013. The company is in process of ascertaining the extent of damage and its impact on the company’s performance.
Oil & Gas major ONGC has surged more than 4% and is the second best performing stock in today’s trades on the Nifty. The sentiment has turned bullish for the stock after oil marketing companies hiked diesel prices by Rs 0.45 per litre last Friday (March 22).
Going ahead, the Nifty faces immediate resistance around the levels of 5720. If the index sustains above this level, we expect a pullback upto the 5750 levels.
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