Indices Hold Morning Gains

The Indian markets are continuing to trade with a positive bias. The Nifty is trading 11 points higher at 6198 and Sensex is up by 66 points at 20350. Both the indices are trading up in the range of 0.18%-0.32%.

The advance-decline ratio is on the positive side. On the NSE, 718 shares are trading in the green and 669 shares are in the red.

Top 5 Nifty Gainers: Maruti Suzuki is leading the gainers list so far, up by 2.26 %. Mahindra & Mahindra, Bajaj Auto, Coal India and Tata Steel are also trading higher.

Top 5 Nifty Losers: Ranbaxy Labs is trading lower by 4.88%, followed by Lupin, BPCL, Cipla and Bharti Airtel.

4 of the 13 sectors indices are trading in losses in the afternoon trading session. Auto is up by 203 points and Metals have gained 77 points. Oil & Gas, FMCG, IT and Capital Goods are all trading higher between 0.4%-0.9%.

All the Asian markets are in the positives. The Hang Seng is up by 410 points and Nikkei has gained 222 points. KOSPI and Shanghai also remain in the green.

Buzzers: Tata Steel is trading higher by 2.9% at Rs 319, gaining some strength from the Rs 315 level. If the stock closes below the Rs 320 level, it could rally up to Rs 340.

Coal India is trading above its key psychological level of Rs 303. The stock has hit an intraday low of Rs 300 in today’s trades. It has seen a dip in prices along with a jump in volumes.

We have mentioned in our last update that 6200 is a laxman rekha for the Nifty. The index saw a low of 6203 and has then taken a u-turn.