Markets Trade Strong, IT Surges 2.5%
Suparna / 04 Sep 2013
After sell-off in yesterday’s session, Indian markets recovered backed by the northward journey witnessed in IT and Banking stocks. IT and Bankex pulled the indices towards northward direction. Nifty is trading up by 89 points to trade at 5430 and the Sensex trades at 18520 up by 289 points.
After sell-off in yesterday’s session, Indian markets recovered backed by the northward journey witnessed in IT and Banking stocks. IT and Bankex pulled the indices towards northward direction. Nifty is trading up by 89 points to trade at 5430 and the Sensex trades at 18520 up by 289 points. Both indices opened up in the range of 1.50-1.65%.
The advance-decline ratio is the positive side at morning session today. On the NSE, 1879 shares are trading in gains and 1430 shares are down.
Top Nifty Gainers: Ranbaxy is the top gainer in today’s morning session and is trading higher by 5.5%. It is followed by IndusInd Bank, Tata Motors, BHEL and Hindalco.
Top Nifty Losers: DLF is the top loser for today’s morning session and is trading lower by 2.7%. It is followed by Maruti Suzuki, ITC, Sesa Goa and Bank of Baroda.
On the sectoral front 12 out of 13 indices are trading in green. Bankex is the top gainer this morning as it surged by 224 points this morning. It was followed by IT and Oil & Gas, which were up by 210 points and 215 points respectively. Metals are also trading higher by 191 points. Mid-Caps and Small-Caps are up by 40 points in this morning session.
Global Market are giving out mixed cues this morning. Nikkei is showing some strength and trading up by 50 points. However Hang Seng, is down by 30 points. KOSPI and the Shanghai Composite were trading with nominal gains this morning.
Buzzers: Infosys surged more than 2.5% in morning trading session as the INR continued with its the downfall. The stock broke the technical levels of Rs 3100 and made reached fresh high of Rs 3139. If the stock continues with this movement we may see it touching Rs 3150 level.
Nifty Future is volatile and it is trading above its 50-SMA level which is 5420. This is indicating good strength at current level around 5450.
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