Market Positive, Sensex Holds 20k Mark

The Indian markets opened higher after seeing a rally yesterday. The global markets are also seen in the positive zone. The Nifty opened higher by 22 points at 6096 and Sensex was up 60 points at 20089. Both the indices opened up in the range of 0.19%-0.29%.

The advance-decline ratio is positive this morning. On the NSE, 770 shares are trading in gains and 560 shares are down.

Top 5 Nifty Gainers: Coal India is the highest gainer so far, up by 3.41%. JP Associates, GAIL, Hero MotoCorp and Bharti Airtel are among the others in the lead.

Top 5 Nifty Losers: UltraTech Cement is the top loser, trading down by 1.8%, followed by IndusInd Bank, Kotak Mahindra Bank, Grasim and Sesa Goa.

9 out of the 13 sectors are trading in the red zone. Banks and Auto are down by 84 points and 76 points respectively. Capital Goods has dropped by 42 points and Consumer Durables is 21 points lower. PSUs have been strong gainers, up by 66 points.

On the global front, the Asian shares are trading higher. The Nikkei is up 206 points, Hang Seng has gained 58 points, while the KOSPI and Shanghai markets are also in positives. The Taiwan index is down by 17 points.

Buzzers: IndusInd Bank opened with a positive sentiment but could not hold on to the higher levels. The stock has broken a stiff support at Rs 520 in the morning session. It made a new 52-week high at Rs 531.90, and if it manages to break this level, it could see a further up-move to Rs 545.

Mahindra & Mahindra opened negative and moved down by over 1.5%. It has broken a stiff support at Rs 940. If the stock manages to hold this position, we could see it move lower to Rs 920.

The Nifty is consolidating between the 6050-6110 levels, and any further movement will be decided once it crosses these levels.