Nifty Touches A New High For 2013

The Indian markets saw a sideways movement in the mid session of trade and recovered its losses in the last one hour. The Nifty closed with gains of 44 points at 6094 and Sensex was up by 143 points at 2082. Both the indices ended with gains of 0.74%-0.72%.

On the NSE, 656 shares closed in the green and 676 shares were in the red zone.Top 5 NSE Gainers: Maruti Suzuki ended as the top gainer on the NSE, up by 4.07%. IndusInd Bank, Tata Motors, ITC and ACC were the others in the list.

Top 5 NSE Losers: Coal India was down by 2.96%, followed by Jindal Steel, UltraTech Cement, PNB and Sun Pharma.

Metal was the only sector that ended in negatives, down by 0.3%. Auto was the top gainer for the day, up by 2.15%. Consumer Durables was up 1.35%, Banks were 1.22% higher and FMCG gained 1.4%. Capital Goods and Realty ended with nominal gains.

The Asian markets closed on a positive note. Nikkei was the top gainer, up by 416 points at 14607 and Hang Seng gained 109 points. KOSPI and Shanghai Composite closed marginally negative.

Buzzers: Coal India lost 3.9% as an Inter-ministerial Group (IMG) approved a 10% equity sale, which is expected to fetch over Rs 17000 crore for the government. At present, the government holds a 90% stake in the company. After the announcement, the stock broke its support level and made a low of Rs 297.60.

NTPC surprised the market by posting a 69% YoY jump in its March quarter profit to Rs 4381 crore. This was boosted by an exceptional gain of Rs 1684 crore. Sales grew marginally to Rs 18462 crore, up by 1% YoY. After this, the stock made a new high of Rs 160.

The Nifty has given a breakout at the 6090 level. If it manages to sustain above these levels, we may see a further move up to 6140.