Markets Open Positive, IT Up 1%
Suparna / 22 May 2013
The Indian markets are trading on a flat note this morning. The Nifty opened with a positive bias of 7 points at 6125 and Sensex was up 40 points at 20160. Coal India remains the highest gainer.
The Indian markets are trading on a flat note after a volatile day seen yesterday. The global markets are also seen in the positive zone. The Nifty opened with a positive bias of 7 points at 6125 and Sensex was up 40 points at 20160. Both indices opened up in the range of 0.19%-0.21%.
The advance-decline ratio is positive in the morning session. On the NSE, 720 shares are trading in gains and 590 shares are down.
Top 5 Nifty Gainers: Coal India is the highest gainer so far, up by 1.9%. HCL Tech, Sun Pharma, SBIN and ONGC are the others witnessing gains.
Top 5 Nifty Losers: DLF is the top loser this morning, trading down by 2.3%, followed by JP Associates, Hero MotoCorp, HDFC and Bajaj Auto.
All 13 sectoral indices are trading in the green zone. IT is top gainer, up by 72 points, followed by Metals and Banks which are up by 50 points and 47 points respectively. Capital Goods are up by 44 points and FMCG has gained 35 points in the morning session.
Among the Asian markets, the Nikkei is up by 226 points, while Taiwan Weighted, KOSPI and Shanghai are flat, positive. The Hang Seng market is closed for today.
Buzzers: Coal India opened trades with a positive sentiment and has broken its stiff resistance at the Rs 310 level in the morning session. The stock has made a new high of Rs 314, and if it manages to break this level, we may see a further up-move up to Rs 320.
Sun Pharma has also broken its stiff resistance at Rs 991. If the stock manages to hold this position, it could move up to Rs 1020.
The 6120-6100 levels will be a lakshman rekha for the Nifty. 6160 will be a major hurdle. If the index breaks and trades below this support level, it may move upwards.
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