Markets Bullish, Bankex Up By 2.7%

The Indian markets opened on a positive note today as global markets were trading on a positive note. The Nifty opened with a positive bias of 40 points at 6036 and Sensex was up by 150 points at 19,875. Both the indices opened up in the range of 0.9%-0.8%.

The advance-decline ratio is in on the positive side in the morning session. On the NSE, 959 shares are trading in gains and 406 shares are down.

Top 5 NSE Gainers: PNB is the top NSE gainer so far, up by 5.3%, followed by HDFC, IDFC, Rel Infra and JP Associates. 

Top NSE Losers: Ranbaxy is the top loser this morning, trading down by 0.69%, followed by Power Grid Corporation Of India.

All the sectors are trading in the green zone. Banks and Auto are the gainers, up by 363 points and 285 points respectively. Capital Goods is up by 227 points, Oil & Gas by 175 points, and Mid-Cap is up by 149 points, followed by Heathcare gaining some strength up by 145 points in the morning trading session. 

On the global front, the Asian shares are trading with a positive sentiment. The Nikkei market is the top gainer in today’s session, up by 337 points. The Hang Seng market is up by 178 points, while Taiwan, KOSPI, and Shanghai are trading flat with a positive bias.

Buzzers: HDFC opened on a positive note and broke its stiff resistance in the morning session at Rs 900. The stock made a new high at Rs 915 and if it manages to break this level, we may see an up-move up to Rs 940.    

PNB opened on a positive note and broke its stiff resistance at Rs 800. If it manages to hold this position, we will see a further up-move up to Rs 815.

The 5970-600 levels will be a lakshman rekha for the Nifty. A major hurdle will be faced at 6100. If it breaks and trades above this resistance levels, we may see a further up-move.