Bulls Tighten Grip, Market Up By 1%
Vinaya Patil / 16 Apr 2013
The Indian markets surged in the afternoon trading session over hopes of the current account deficit (CAD) narrowing after a fall in the international gold and crude prices. The Nifty is trading higher at 5636 and Sensex is trading higher at 18,591. Both the indices are trading up in the range of 1.23% to 1.26%.
The Indian markets surged in the afternoon trading session over hopes of the current account deficit (CAD) narrowing after a fall in the international gold and crude prices. Import bills of gold and crude are major components of the CAD. At 12:30 PM, the Nifty is trading higher by 69 points at 5636 and Sensex is trading higher by 232 points at 18,591. Both the indices are trading up in the range of 1.23% to 1.26%.
The advance-decline ratio is on the positive side in the morning trading session. On the NSE, 705 shares are trading in green and 472 shares are trading in red.
Top 5 NSE Gainers: Mahindra and Mahindra is the top gainer on the NSE, trading up by 3.29%, followed by IDFC, HDFC Bank, Hero Motocorp and HDFC.
Top 5 NSE Losers: Infosys is trading down by 1.57% and is among the top losers on the NSE, followed by Sesa Goa, Lupin, Cairn India and Ambuja Cement.
Among the sectoral indices, most sectors are trading in green. Bankex, Capital Goods and Auto are trading firm in the afternoon trading session. IT, Metal and TECk are trading in red.
Meanwhile, the Asian markets trading firm. China’s Shanghai Composite is trading higher by 0.59%, followed by Taiwan Weighted and Straits Times. Nikkei and Hang Seng are trading flat with a negative bias.
Buzzers: The stock of Reliance Infra has surged more than 3% to trade near the day’s high. It opened at Rs 352 and is now trading at Rs 366.95. The stock has seen a good breakout along with a rise in volumes.
Hero Motocorp is one of the top gainers on the NSE. It has gained more than 3%, trading at Rs 1,482. The stock has seen a good bounce back from its 52-week low.
Nifty is trading comfortably above 5630. Going ahead, the market may face resistance around 5680-5700 levels.
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