Day’s Trades Start Flat, Tata Steel Gains 5%
Suparna / 14 Aug 2013
The Indian markets opened trades on a somewhat flattish note today. The Nifty index is currently up by 6 points at 5705 and Sensex is 22 points higher at 19253. Both indices opened up in the range of 0.23%-0.17%.
After witnessing a gap-up opening for the last 3 days, the Indian markets opened trades on a somewhat flattish note today. The Nifty index is currently up by 6 points at 5705 and Sensex is 22 points higher at 19253. Both indices opened up in the range of 0.23%-0.17%.
The advance-decline ratio is on the positive side this morning. On the NSE, 1822 shares are trading in gains and 1460 shares are down.
Top 5 Nifty Gainers: Tata Steel is the top gainer for the morning session, up by 5.22 %. Tata Motors, Hindalco, BPCL and NMDC are among the others trading higher.
Top 5 Nifty Losers: HDFC has dipped by 1.5% so far, followed by ITC, BHEL, HUL and Dr Reddy’s Labs.
11 out of the 13 sectors are trading in the green zone. Auto and Metals are the strongest gainers, both up by 195 points. Consumer Durables and Healthcare were up by 88 points and 64 points respectively. Mid-Caps and Small-Caps were both up around 35 points. The FMCG index, though, was down by 47 points.
Among the key Asian indices, the Hang Seng is the top gainer this morning, moving up by 269 points. The Nikkei market is also trading higher, while Taiwan Weighted and Straits Times are in negatives.
Buzzers: Tata Steel has moved up over 5% after the company's quarterly profits nearly doubled. The stock broke a major hurdle around Rs 250. If it sustains above this level, it may touch Rs 272 by the closing session.
Going ahead, Nifty Futures faces a strong resistance at the 5730-5745 levels.
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