Markets Move Up, FMGC Shines
Suparna / 26 Mar 2013
The Indian markets are trading flat with a positive bias as of now. Trades are in a tight range. The Nifty is trading at 5634 and Sensex is higher at 18,689. FMGC and Consumer Durables stocks are trading higher, providing support to the market.
The Indian markets are trading flat with a positive bias after a small gap-down in the opening bell. Trades are in a tight range as the exchanges will remain shut tomorrow to mark Holi. The Nifty is trading at 5634 and Sensex is trading up by 9 points at 18,689. Both the indices are trading higher in the range of 0.02%-0.04%.
The advance-decline ratio is still on the negative side. On the NSE, 828 shares are trading in the red and 519 shares are in gains.
Top 5 NSE Gainers: Ranbaxy Labs is leading the gainers list so far, up by 2.38%. Hindustan Unilever, ITC, Tata Motors and Coal India are also in gains.
Top 5 NSE Losers: GAIL is trading lower by 3.86%, followed by Reliance Infrastructure, Siemens, DLF and Ambuja Cements.
8 of the 13 sectoral indices are trading in losses in the afternoon trading session. Realty, Oil & Gas and Capital Goods are witnessing a heavy selloff, trading lower in range of 1.15-2.55%. FMGC and Consumer Durables are providing support to the market, trading higher between 0.75%-1.09%.
Most of the Asian markets are down. China’s Shanghai Composite is the top loser, lower by 1.29%, followed by Nikkei 225 and Hang Seng. KOSPI and Straits Times are trading in the green.
Buzzers: Balmer Lawrie and Company is trading higher by 3% at Rs 614 on the NSE ahead of its board meeting today to consider a maiden bonus issue proposal. The stock has outperformed the market by inching higher by 6% after the company announced its bonus issue.
Reliance Industries is trading below its key psychological level of Rs 800. The stock has dipped by around 3% in today’s trades. It has seen a dip in prices along with a jump in volumes.
We have mentioned in our previous updates, 5610 is the key support zone for the Nifty and we have seen a minor pullback from those levels.
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