Sensex Beyond 20500, Bankex Gains 3.7%
Suparna / 19 Sep 2013
The Indian indices continued with their bullish moves in mid-session. The Nifty is trading up by 240 points at 6140 and Sensex is 767 points higher at 20730. Banking stocks are still in the lead, and Metals have also gained strength.
On the NSE, the advance-decline ratio is indicating strength, trading with 1858 advances and 1480 declines.
Top Nifty Gainers & Losers: Banking stocks are dominating the Nifty gainers list today. PNB is in the lead so far, up by 9.8%. Bank of Baroda, IDFC, SBI and Kotak Mahindra Bank were among the other stocks trading higher. The list of losers is encouragingly short, featuring only HCL Tech and Power Grid Corp.
12 out of the 13 indices are trading in positives. Bankex has moved higher by 868 points, Metals is up by 388 points, Auto is up 348 points and Oil & Gas is trading 311 points higher. Mid-Caps and Small-caps have gained 125 points and 66 points respectively.
The Asian markets have continued to maintain their momentum. Hang Seng is up by 385 points and Nikkei is 260 points higher.
Buzzer: Metals stocks have witnessed a massive up-move in mid-session, including JSW Steel (+8.6%), Tata Steel (+7.1%), Hindalco (+3.8%), Jindal Steel (+3.1%) and Hindustan Zinc (+3%).
Nifty Futures has broken though all its vital resistances and is trading above the 6150 level. If it closes above this level, it will be indicative of more strength.
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