Markets Continue Uptrend

The Indian markets opened on a positive note this Wednesday over positive global cues. In the morning trading session at 10:10 AM, the Nifty is trading higher by 13 points at 5702 and Sensex is trading higher by 21 points at 18,766. Both the indices are trading up in the range of 0.12% to 0.35%.

The advance-decline ratio is on a positive side in the morning trading session. On the NSE, 709 shares are trading in green and 373 shares are trading in red. 

Top 5 NSE Gainers: Ambuja Cement is the top gainer on the NSE, trading up by 2.58%, followed by SBI, DLF, Sesa Goa and Coal India.

Top 5 NSE Losers: Reliance Industries is trading down by 2.21% and is among the top losers on the NSE, followed by Dr Reddy’s Labs, Tata Consultancy Services, Bharat Petroleum and Infosys.

On the sectoral front, most sectors are trading in green. Realty, Metals and Bankex are trading firm in the morning trading session. Oil & Gas, IT and TECk are trading in a negative zone. 

Meanwhile, the Asian markets are trading mixed. Japan’s Nikkei 225 surged 1.22% at 13,384, followed by Straits Times and Hang Seng. Shanghai Composite and Taiwan Weighted are trading lower by 0.11%-0.60%. 

Buzzers: HCL Technologies has rallied about 2% to Rs 775 as it hit a record high on the NSE after reporting a better-than-expected 7.8% QoQ growth in its consolidated net profit at Rs 1040 crore for the third quarter ended March 2013. 

Reliance Industries is trading lower by 2.45% at Rs 85 after reporting a lower-than-expected topline performance for the fourth quarter ended March 2013. 

The market is consolidating in the range of 5690-5710 in the morning trading session. If we break above this range, we could see a good upmove.