Markets Positive, Nifty Above 5500
Suparna / 02 Sep 2013
The Indian markets have opened positive today, with the global scenario also providing some support. The Nifty up by 42 points at 5514 and Sensex has moved up 171 points to 18792.
The Indian markets have continued to see the positive sentiment at opening for three consecutive days now. The global scenario also provided the indices with some support today. The Nifty up by 42 points at 5514 and Sensex has moved up 171 points to 18792. Both indices opened higher in the range of 0.75-0.95%.
The advance-decline ratio is also indicating strength. On the NSE, 1847 shares are trading in gains and 1435 shares are down.
Top 5 Nifty Gainers: Ranbaxy Labs is the top gainer for today’s morning session, up by 3.1%. Maruti Suzuki, Bank of Baroda, Tata Steel and UltraTech Cement are among the other stocks trading higher.
Top 5 Nifty Losers: Mahindra & Mahindra is the top loser for today’s morning session, trading lower by 2.2%, followed by Tata Power, NTPC, ACC and Kotak Mahindra Bank.
All the sectoral indices are trading in the green at the moment. Metals is the top gainer this morning, up by 172 points. FMCG gained 133 points, Healthcare was 100 points Higher and Bankex moved up by 98 points. Mid-Caps and Small-Caps are also trading with a positive bias, having gained 50 points each so far.
The global markets are also in the positives in the morning session. The Hang Seng is showing strength, up by 425 points. Nikkei is up by 214 points and Taiwan and Straits Times are also trading with a positive bias.
Buzzer: Ranbaxy Labs has surged by more than 3% today. Over the past few days, the scrip has broken its major hurdle at Rs 400 and is currently trading at Rs 422. If it sustains at the current levels, it may touch the Rs 430 level in the next session.
Nifty Futures has broken a bullish crossover at the 5510 level. If it crosses 5525, it may see further positive moves.
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