Swing Trades, Bulls Take Control
Suparna / 22 Aug 2013
The Indian markets have been witnessing swing trades in a very wide range. The Nifty has moved up by 86 points to 5385 and Sensex has gained 304 points to trade at 18207. All the sectors have turned into the positive zone in the mid-market session.
The Indian markets have been witnessing swing trades in a very wide range. The Nifty has moved up by 86 points to 5385 and Sensex has gained 304 points to trade at 18207. Both the indices were up in the range of 0.90%.
The advance-decline ratio is balanced on both sides. On the NSE, 1616 shares are in the green and 1685 shares are in red.
Top 5 Nifty Gainers: Sesa Goa is leading the gainers list so far, up by 7.6%. Ranbaxy Labs, JP Associates, Tata Steel and ONGC are among the others trading higher.
Top 5 Nifty Losers: DLF is down by 2.3%, followed by Maruti Suzuki, Mahindra & Mahindra, IndusInd Bank and Hero MotoCorp.
All of the sectors have turned into the green zone in the mid-market session. Metals and Oil & Gas were the top gainers, up by 389 points and 235 points respectively. IT was up by 115 points and Healthcare gained 102 points. The Mid-Cap and Small-Cap were also nominally in positives.
The Asian markets are trading on a mixed note. Hang Seng is the top gainer so far, up by 59 points. Nikkei, though, moved downwards by 59 points and Straits Times and KOSPI were also trading negative.
Buzzer: Sesa Goa opened on a positive note and managed to hold their gains in the mid-market session. It has broken a technical hurdle of Rs 352 and if closes below this level, it may see a further up-move.
The INR opened at Rs 65 and made a new low of Rs 65.60 today.
The Nifty Futures broke a hurdle at 5350. If it manages to sustain the current gains, it may see more of an up-move.
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