Markets Move Up, Capital Goods And Metals Shine

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 global cues are trading in side-ways, The Nifty is trading at 5729, up by 25 points and Sensex is trading up by 105 points at 18,970. Both the indices are trading higher in the range of 0.56%-0.44%.

The advance-decline ratio is on a positive side. On the NSE, 974 shares are trading in green and 414 shares are in red.

Top 5 NSE Gainers: Sun Pharma is leading the gainers’ list so far, up by 4%. Sesa Goa, IDFC, Cairn India and Bank of Baroda are also in gains.

Top 5 NSE Losers: Tata Motors is trading lower by 1.69%, followed by DLF, UltraTech Cements, Bajaj Auto, and HDFC.

11 of the 13 sectoral indices are trading in gains in the afternoon trading session. Capital Goods, Oil & Gas and Metals are witnessing a heavy short covering, trading higher in range of 1.15%-2.55%. Healthcare and Banks are providing support to the market, trading higher between 0.75%-1.09%.

Most of the Asian markets are up, apart from China’s Shanghai Composite, which is trading lower by 0.30%, followed by Nikkei 225, down by 130 points and Hang Seng. KOSPI and Straits Times are trading in green.

Buzzers: Sun Pharma is trading higher by 3.6% at Rs 842. The stock has outperformed the markets by inching higher at Rs 849. If the stock manages to close above Rs 850, we can see more an upmove of upto Rs 870.  

Tata Motors is trading below its key psychological level of Rs 261. The stock has dipped by around 1.5% in today’s trade. It has seen a dip in prices along with a jump in volumes.

We had mentioned in our previous updates that 5725-5730 are the break out levels for Nifty. If Nifty manages to hold on to these levels and closes above 5740, we will see a further upmove to the 5780 level.