Sensex Cruises Above 20000

The Indian markets edged higher in the late afternoon session today after the country’s headline inflation eased for the month of June 2013 and remained within the Reserve Bank of India’s comfort zone of sub-5%. The 50-share Nifty index ended with gains of 21 points at 6030 and Sensex closed at 20,038, up by 80 points. Both the indices ended with gains of 0.36%-0.40%.

The advance–decline ratio ended positive at the end of the trading session. On the NSE, 740 shares ended in green and 464 shares ended in red.

Top 5 Nifty Gainers: Punjab National Bank ended as the top gainer at the end of today’s trading session, up by 5.07%, followed by Bank of Baroda, Jaiprakash Associates, Cairn India and Hindalco Industries.

Top 5 Nifty Losers: Coal India ended as the top Nifty loser, down by 2.57%, followed by NTPC, Infosys, Tata Steel and BHEL.

Most of the sectors ended in green. FMCG, Consumer Durables, Capital Goods and Bankex were the top gainers among the sectoral indices. Power and IT ended in negative.

The European markets were seen trending up. CAC 40 is trading up by 0.45%, followed by FTSE 100 and DAX, trading higher in the range of 0.16%-0.31%.

On the global front, the Asian shares surged up. China’s Shanghai Composite surged up by 0.97%, followed by Taiwan Weighted, KOSPI, Nikkei and Hang Seng.

Buzzers: TTK Prestige has slipped more than 5% after reporting a YoY fall in its net profit at Rs 25.79 crore for the quarter ended June 2013 due to higher raw material costs. The houseware maker had profits of Rs 30.68 crore in the last year’s June quarter. The stocks opened at Rs 3831 and hit a high of Rs 3899 and a low of Rs 3570.

Punjab National Bank surged more than 4% over heavy volumes. The stock touched its one- month high. It opened at Rs 630.30 and made a high of Rs 666.

Nifty, after consolidation in the morning session, gave a breakout and the bank Nifty was a show stealer. Going ahead, 6050 is a crucial level for Nifty.