Markets Open Positive, Auto Up 1%

The Indian markets opened on a positive note today. The Nifty is trading with a positive bias of 20 points at 6070 and Sensex is up 66 points at 20005. Both indices opened up in the range of 0.31%-0.31%.

The advance-decline ratio is positive in the morning session. On the NSE, 792 shares are trading in gains and 497 shares are down.

Top 5 NSE Gainers: Maruti Suzuki is the top gainer so far, up by 2.11%, followed by Reliance Infra, Mahindra & Mahindra, Hero MotoCorp and SBI.

Top 5 NSE Losers: Coal India is down by 1.5% at the moment. Jindal Steel, PNB, HDFC and Asian Paints are among the others trading lower.

12 out of the 13 sectors are trading in the green zone. Consumer Durables and Auto are the top gainers, up by 138 points and 113 points respectively. Among others, Banks have gained 75 points, Capital Goods is up 41 points, IT is up 31 points and and Oil & Gas is 36 points higher.

In the Asian markets, the Nikkei has gained 422 points. However Hang Seng is down by 37 points, while Shanghai, Taiwan Weighted and Kospi are trading flat on a negative note.

Buzzers: Maruti Suzuki has opened trades with a positive sentiment and has broken its stiff support at Rs 1690 in the morning session. The stock made a new high at Rs 1698, and if it manages to break this level, we can expect a further up-move up to Rs 1710.

IndusInd Bank is the top gainer for the past few trading sessions, up by 1.9% at Rs 498. If the stock manages to sustain above the Rs 500 level, it will come into a positive phase and we can expect to see an up-move to the Rs 515 level.

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