RBI Triggers The Bulls, Indices Up By 2%
Suparna / 05 Sep 2013
The RBI announced a slew of measures yesterday. This resulted in a boosting of the markets on opening and in the morning session. The Nifty is trading higher by 118 points at 5565 and the Sensex is up by 351 points at 18918.
The RBI announced a slew of measures yesterday. This resulted in a boosting of the markets on opening and in the morning session. The Nifty is trading higher by 118 points at 5565 and the Sensex is up by 351 points at 18918. Both the indices opened higher in the range of 1.89-2.16%.
The market breadth is positive this morning with 1965 advances and 1361 declines on the NSE.
Top Nifty Gainers: Axis Bank is the top gainer for today’s morning session and is up by 9.0%. It is followed by IndusInd Bank, Kotak Mahindra, ICICI Bank and DLF.
Top Nifty Losers: Infosys is the top loser for today’s morning session and is trading lower by 2.7%. It is followed by TCS, GAIL, HCL Tech and Ranbaxy Lab.
12 out of 13 sectoral indices are trading positively. Bankex is the top gainer this morning as it has surged by 626 points. It is followed by FMCG and Consumer Durables, which are up by 198 points and 186 points respectively. The Capital Goods index too is considerably higher, and has gained 149 points. Mid-caps and small-caps are trading with a positive bias and both are higher by 55 points each this morning.
The global sentiment also seems positive. In Asia, the Hang Seng has been the highest gainer and has shown an appreciation of 249 points. The Nikkei is trading higher by 78 points. The KOSPI and Taiwan are trading with a nominal positive bias.
Buzzers: All the banking stocks have seen considerable gains. Gains in stocks price of Bank Of India, Bank Of Baroda, Andhra Bank, Allahabad Bank, Canara Bank, IDBI Bank, Indian Bank, IOB and J&K Bank are in the range of 2-5%.
If the Nifty Future remains above the 5500 level, the positive trend will remain persistent. A major hurdle exists at levels of around 5620-5640.
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