Markets Open Positive, Nifty Back Above 6k
Suparna / 27 May 2013
The Indian markets have opened on a positive note after seeing flat trades on the last day of the previous week. The Nifty opened with a positive bias of 44 points at 6028 and Sensex was up 153 points at 19857.
The Indian markets have opened on a positive note after seeing flat trades on the last day of the previous week. The Nifty opened with a positive bias of 44 points at 6028 and Sensex was up 153 points at 19857. Both indices opened higher in the range of 0.74%-0.78%.
The advance-decline ratio is positive so far. On the NSE, 870 shares are trading in gains and 407 shares are down.
Top 5 Nifty Gainers: Reliance is the top gainer, up by 3.7%, followed by Bharti Airtel, Sun Pharma, Jindal Steel and IndusInd Bank.
Top 5 Nifty Losers: Lupin is trading down by 2.8% this morning. Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki and Bank of Baroda are also in the red.
11 out of 13 sectors are trading in the green zone. Oil & Gas is the top gainer, up by 154 points and Banks are 104 points higher. Healthcare has also gone up strongly by 100 points and Consumer Durables are up by 80 points. Mid-Caps and Small-Caps are higher by 50 points each. Auto and Capital Goods are the only sectors in the red at the moment, down by 42 points and 14 points respectively.
On the global front, the Asian shares are trading with a mixed sentiment. The Nikkei market is down by 389. On the other hand, the Hang Seng is up by 43 points. Taiwan Weighted is higher by 53 points and the KOSPI and Shanghai are also in positives.
Buzzers: Reliance Industries opened with a positive sentiment and has broken its stiff resistance at the Rs 810 level in the morning session. The stock has made a new high at Rs 820, and if it manages to break this level, we could see a further up-move to Rs 835 for further trading session. Brokerage house Goldman Sachs has maintained its 'buy' rating on this counter.
Rcom has has raised the basic rates for both GSM and CDMA pre-paid calls by 33% to 2 paise per second. The stock opened positive and went up by more than 3%. It has broken a stiff resistance at Rs 111. If it holds on to this position, it could move up to Rs 120.
The Nifty has broken a strong hurdle at 6020. If it closes above this level, we may see it rise to 6070.
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