Sensex Hits Double Ton; IT Shines

The Indian markets, after a firm start, continued to trade higher in the afternoon trading session, thanks to some bargain hunting in Banking, IT, FMCG and Oil shares after sharp losses yesterday. The Nifty is trading with gains of 67 points at 5838 and Sensex is trading at 19,395, up by 217 points. Both the indices are trading with gains of 1.14%-1.17%.

The advance–decline ratio is positive in the afternoon trading session. On the NSE, 770 shares are trading in green and 425 shares are trading in red.

Top 5 Nifty Gainers: Reliance Infrastructure is trading as the top gainer in the afternoon session, up by 5.24%, followed by HCL Technologies, Tata Power, ITC and ACC.

Top 5 Nifty Losers: BHEL is trading as the top Nifty loser, down by 1.40%, followed by Bajaj Auto, Tata Motors, Sesa Goa, ONGC and ICICI Bank.

All the sectors are trading in green this afternoon. IT, TECk and FMCG are trading as the top gainers in the afternoon trading with gains in the range of 1.85%-2.3%.

On the global front, most Asian shares surged up. Hong Kong’s Hang Seng surged up more than 1.63% to the levels of 20,481 followed by Straits Times, KOSPI and Shanghai Composite. On the flip side, Nikkei 225 and Taiwan Weighted are trading in red in the range of 0.22%-0.26%.

Buzzers: Tech Mahindra has surged more than 3% at Rs 1030 after the company merged Mahindra Satyam within itself. The trading of Mahindra Satyam shares has been suspended from today as the swap ratio of Mahindra Satyam and Tech Mahindra will come into force.

Reliance Communications hit a fresh 52-week high. The stock is trading higher by 3.66% at Rs 136. It opened at Rs 133 and made a low of Rs 130.75. The stock is now trading near its intraday high.

Going ahead, Nifty has a strong resistance around the 5855-5860 levels.