Indices Stable, Oil & Gas On The Rise
Suparna / 27 May 2013
In the afternoon session, the Nifty is trading higher by 37 points at 6021 and the Sensex is trading at 19,851 up by 147 points. Reliance Industries is the top gainer, up by 4.25%.
The Indian markets are continuing to trade in positives on the first day of this week. The Nifty is trading stable above the 6000 mark, currently higher by 37 points at 6021, led by Reliance Industries (the company with second highest weightage on the Sensex). The Sensex is trading at 19,851 up by 147 points. Both the indices are trading up in the range of 0.64%-0.74%.
The advance-decline ratio is on the positive side in the afternoon trading session. On the NSE, 750 shares are trading in the green and 502 shares are in the red.
Top 5 Nifty Gainers: Reliance Industries is the top gainer in the afternoon session, up by 4.25%. IndusInd Bank, Bharti Airtel, Sun Pharma and HDFC Bank are the other stocks trading higher.
Top 5 Nifty Losers: Lupin is currently down by 2.46%, followed by Mahindra & Mahindra, Maruti Suzuki, Bajaj Auto and Grasim.
Most of the sectoral indices are trading in the green. Oil & Gas, Consumer Durables and Healthcare are all trading up by more than 1%. Auto has remained in the negatives.
Among the Asian markets, Taiwan Weighted is trading up by 0.85%, and Hang Seng and Shanghai Composite are also in gains. The Nikkei, though, continues to trade in the red, down by over 3%.
The European markets are trending up too. CAC 40 is trading with gains of 0.62%, FTSE 100 is higher by 0.31% and DAX is up 0.27%.
Buzzers: Crompton Greaves has slipped over 4%, trading near its intraday low. The company reported a sharp 75% year-on-year fall in its consolidated net profits, which came in at Rs 25 crore for the quarter ended March 31, 2013 following poor performance from its power division.
Avanti Feeds is locked in an upper circuit of 20% at Rs 129.55 on the NSE, with no sellers on the counter after the company reported an over two-fold jump in its net profit at Rs 6.61 crore for the quarter ended March 31, 2013 on the back of higher operational income.
The Nifty market is consolidating in a range of 5970-6040. A fresh breakout can be expected only if it sustains above 6040.
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