Markets Still Higher, Oil & Gas On Fire
DSIJ Intelligence / 16 May 2013
The Indian markets continue to trade positively with gains in Oil & Gas and banking stocks. Mid-Cap stocks are in the limelight as they are trying to catch up with the Large-Caps.
The Indian markets continue to trade in the green, with buying interest visible in Oil & Gas and banking stocks. Mid-Cap stocks are in the limelight as they are trying to catch up with the Large-Caps. This rally was led by frontline shares over the last couple of weeks. The Nifty is trading up by 14 points at 6161, and Sensex is 18 points higher at 20,231.
The advance-decline ratio is on the negative side in the afternoon session. On the NSE, 634 shares are in the red and 621 shares are in green.
Top 5 NSE Gainers: Jaiprakash Associates is the top gainer on the NSE, up by 4.75%, followed by Dr Reddy’s Labs, IDFC, Cipla and Grasim Industries.
Top 5 NSE Losers: ITC has dipped 2.57% so far. Jindal Steel and Power, NMDC, Tata Consultancy Services and Infosys are the others trading lower.
Most of the sectors are trading in the green. Realty, Oil & Gas, Healthcare and Bankex are all up by more than 1%.
In the Asian markets, China’s Shanghai Composite is the top gainer, higher by 1.18%. The KOSPI and Hang Seng are also in positives. Japan’s Nikkei 225 has dropped by 0.38%.
Buzzers: Tata Communications is trading lower by 3.66% at Rs 230 on the NSE after the company announced its intention to delist from the New York Stock Exchange (NYSE) and said that it will terminate its ADR programme due to trading volumes.
The stocks of Reliance Industries are trading higher by 1.94% at Rs 834. They opened trades at Rs 816 and made a high of Rs 838. The stock has seen a rise in volumes along with price.
The Nifty has strong support around the 6125-6120 levels.
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