Indices In A Tight Range

The Indian markets are trading positive in the noon deals today. The broader markets, however, have outperformed the benchmark indices. The Nifty is trading up by 12 points at 5955 and Sensex is 47 points higher at 19,623. Both the indices are trading up in range of 0.20%-0.24%.

The advance-decline is on the positive side. On the NSE, 726 shares are trading in the green and 529 shares are in the red.

Top 5 NSE Gainers: Asian Paints is the top gainer so far, up by 3.45%, followed by Hindalco Industries, Tata Steel, Tata Consultancy Services and Reliance Industries.

Top 5 NSE Losers: Kotak Mahindra Bank has lost 1.87%. Ambuja Cements, HDFC Bank, NTPC and ONGC are also witnessing losses.

Among the sectoral indices, Metal and IT continue to trade strong. Bankex and FMCG remain under pressure, trading down in the range of 0.74%-0.78%.

The Asian markets are still trading firm. China’s Shanghai Composite is the top gainer, up by 1.06%, followed by Hang Seng and Straits Times. The Nikkei is trading lower by 0.77%.

Buzzers: The shares of Finolex Industries are locked in a 20% upper circuit and hit a new 52-week high after the company reported a strong set of Q4FY13 numbers. The profits of the PVC-U pipe manufacturer surged 41% year-on-year to Rs 79.3 crore.

Glenmark Pharma surged to Rs 512, up by 2.59% on the back of strong volumes. The stock’s 5-day average volumes stand at 25449 and today’s trading volume is around 318681 up by 25%.

The Nifty is trading in a narrow range of 25-30 points. Once it breaks the 5940 level in spot, it may touch the 5910-5900 levels.