Markets Remain Positive

Suparna / 26 Sep 2013

Markets Remain Positive

The Indian markets continued to move higher after the morning session. Some gains came from the Metals and Bankex indices in mid-session. The Nifty is trading up by 29 points at 5903 and Sensex has gained 92 points to move to 19948.

The Indian markets continued to move higher after the morning session. Some gains came from the Metals and Bankex indices in mid-session. The Nifty is trading up by 29 points at 5903 and Sensex has gained 92 points to move to 19948. The indices are trading higher between 0.50%-0.60%.

The advance-decline ratio was balanced in mid-session. On the NSE, 1682 shares are in the green and 1627 shares are in red.

Top 5 Nifty Gainers: Coal India is leading the gainers list so far, up by 3.2%. BHEL, Tata Steel, Sun Pharma and JP Associates are also in gains.

Top 5 Nifty Losers: Jindal Steel has dipped by 1.7%, followed by HCL Tech, HUL, Power Grid and GAIL.

The sectoral indices are also in positives. Metals is the top gainer, moving up by 129 points. Health Care has gained 91 points, Bankex is up 80 points and Capital Goods is up 74 points. Mid-Caps and Small-Caps were also seen in some positives.

In the Asian markets, the Nikkei has gained 178 points so far, while Hang Seng, Shanghai Composite and KOSPI remain in the red zone.

Buzzer: Coal India has witnessed a strong up-move over the past few days. The stock has crossed its 100-day EMA level of Rs 291. If it closes above Rs 300 level, it may see more upward movement to around Rs 320.

Nifty Futures has crossed the 5900 level. If the index maintains this momentum, we may see September expiry in the range of 5930-5940.

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