Markets Pull Back, Await WPI Numbers

The Indian markets have opened on a positive note after seeing a sell-off in for last 4 days. The global markets were seen trading in a positive zone in the morning session. The Nifty opened with a positive bias of 80 points at 5776 and the Sensex was up by 251 points at 19,078. Both the indices opened up in the range of 1.34%-1.33%.

The advance-decline ratio is on the positive side in the morning session. On the NSE, 958 shares are trading in gains and 394 shares are down.

Top 5 Nifty Gainers: Tata Motors is the top Nifty gainer so far, up by 3.6%, followed by Maruti Suzuki, IDFC, HDFC and Tata Steel.

Top 5 Nifty Losers: Cipla is the top loser this morning, trading down by 1.1%, followed by IndusInd Bank, HCL Tech, TCS and HUL.

All the sectors are trading in the green zone. Auto is top gainer, trading up by 236 points. Banks and Consumer Durables also up by 171 points and 188 points respectively. Capital Goods and Oil & Gas are gainers, up by 157 points and 137 points correspondingly.

On the global front, the Asian shares are trading with a positive sentiment. The Nikkei market is the top gainer, up by 425 points. Hang Seng is up by 227 points while the KOSPI and Shanghai indices are trading on a positive note. However, the Taiwan market is down by 10 points.

Buzzers: Tata Steel opened with some positive sentiment, up by 2.8%. The stock made a high at Rs 274.50. It broke its stiff resistance in the morning session at Rs 270 level. If it breaks this level, we will see an up-move up to Rs 280 in the further trading session.

Tata Motors rallied 3.5%, after its subsidiary Jaguar Land Rover said that its retail sales rose by 12% YoY to 32,477 units in May, mainly driven by Jaguar sales.

Nifty broke a small hurdle at the 5750 level. If it manages to cross 5795, we may see an up-move in the further trading session.