Sensex Hits Ton, Capital Goods Flourish
Suparna / 16 Apr 2013
Traders and investors would keenly follow the movement of RIL, which will announce its Q4 earnings today. The Nifty is trading higher at 5619 and Sensex has gained 169 points and is at 18,526. Tata Power is trading up by 3.41%.
The Indian markets gained this morning after some initial weakness. Traders and investors would keenly follow the movement of Ambanis’ flagship company Reliance Industries, as the company announces its fourth quarter earnings today. In the morning trading session, the Nifty is trading higher by 51 points at 5619 and Sensex has gained 169 points and is at 18,526. Both indices are trading up in the range of 0.92%-0.93%.
The advance-decline ratio is on the positive side so far. On the NSE, 646 shares are trading in the green and 409 shares are in the red.
Top 5 NSE Gainers: Tata Power is the top gainer on the NSE so far, trading up by 3.41%. Maruti Suzuki, HDFC, Hero MotoCorp and L&T are the others in the list.
Top 5 NSE Losers: Infosys is trading down by 1.25%, followed by Cairn India, NMDC, Ambuja Cements and Tata Consultancy Services.
On the sectoral front, most of the indices are trading in the green. Capital Goods, Bankex, Power and Auto are trading firm as of now, while IT and Metal are seeing some weakness.
Meanwhile, in the Asian markets, Straits Times is trading up by 0.19%, and Taiwan Weighted and Nikkei 225 are also in gains. The Hang Seng is trading in down by 0.58%, and Shanghai Composite is also lower.
Buzzers: CERC, the country’s apex power sector regulator, passed a landmark order on Monday, April 15, extending relief to Tata Power in the form of ‘compensatory tariff’ for the sale of electricity from its 4000 MW Mundra Ultra Mega Power Project (UMPP) in Gujarat. The stock is trading up by 3.19% at Rs 97.
CMC is trading down by 1.58% at Rs 1384 after reporting a marginal 0.46% quarter-on-quarter growth in its consolidated net profit, which stood at Rs 61.34 crore for the quarter ended March 2013. The stock made a low of Rs 1301.60 on the NSE and recovered smartly from the lower levels.
The market is continuing with its upward momentum on the back of buying in financial stocks and short covering. Going ahead, if the Nifty sustains above 5630, we can expect it to touch the 5700 levels.
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