Markets Bullish, Near 20k Mark

The Indian markets have opened on a positive note today and are making new heights from some consecutive days. The global markets were also seen at new highs. The Nifty opened with a positive bias of 17 points at 6060 and Sensex was up 75 points at 19963. Both indices opened up in the range of 0.29%-0.38%.

The advance-decline ratio is in on the positive side in the morning session. On the NSE, 786 shares are trading in gains and 479 shares are down.

Top 5 NSE Gainers: HDFC is the top NSE gainer so far, up by 1.87%, followed by Tata Motors, Lupin, BPCL and HUL.

Top 5 NSE Losers: Ranbaxy Labs is the top loser this morning, trading down by 1.8%. NTPC, Hero MotoCorp, Asian Paints and Mahindra & Mahindra are among the others in losses.

Among the sectoral indices, Metal and Oil & Gas are the top gainers, up by 57 points and 42 points respective. FMCG and Healthcare are also up by 25 points and 21 points respectively, and Banks are seeing nominal gains of 15 points.

On the global front, the Asian shares are trading with a positive sentiment. The Hang Seng market is the top gainer, up by 144 points, followed by Nikkei which has gained 139 points. Shanghai, Taiwan Weighted and Kospi are all trading flat, positive.

Buzzers: HDFC is trading higher over expectations regarding the quarterly results. The stock opened with a positive sentiment and has broken its stiff resistance at the Rs 865 level. It has made a new high at the Rs 873 level and if it manages to break this level, we may see a further up-move up to Rs 880.

Counting of votes for the recently-held Assembly elections in Karnataka began this morning under tight security at 36 centres and the results are expected to be declared by noon, as per sources in the Election Commission.

The 6020-6040 levels will be a lakshman rekha for the Nifty. 6090 will be a major hurdle. If the Nifty breaks and trades above this level, we may see a further up-move.