Markets Positive, INR Below 62 Mark
Suparna / 04 Oct 2013
The Indian markets witnessed positive trades in the morning session. The Nifty has gained 31 points to move up to 5941 and Sensex is up 109 points at 20014. The INR is trading below the 62 level against the USD, and this is lending strength to the indices.
The Indian markets witnessed positive trades in the morning session. Strength comes from the currency segment, as the INR trades below the 62 mark against the USD. At this hour, the Nifty has gained 31 points to move up to 5941 and Sensex is up 109 points at 20014. Both indices are trading up in the range of 0.55%-0.57%.
The advance-decline ratio is on the positive side this morning. On the NSE, 1620 shares are trading in gains and 1006 shares are down.
Top 5 Nifty Gainers: Tata Motors is the top gainer so far, up by 4.08%, followed by BPCL, M&M, UltraTech Cement and TCS.
Top 5 Nifty Losers: JP Associates is trading lower by 1.4%. Jindal Steel, HUL, Power Grid Corporation and Dr Reddy’s Labs are among the other stocks trading lower.
Most of the sectoral indices are trading in the green. Auto is the top gainer, up by 249 points. Bankex has gained 90 points, Consumer Durables is up 74 points and IT is trading 57 points higher. Mid-Caps and Small-Caps are also seeing some positive moves, up by 35 points each. The Metals index, however, has lost 10 points in this morning session.
The Asian markets are seeing negative trades in today’s session. The Hang Seng is lower by 136 points and Nikkei has moved down by 114 points so far.
Buzzers: Tata Motors is trading 3.5% higher this morning. The stock has crossed a bullish crossover of Rs 360. If it sustains above this level, it may touch the Rs 375 mark in the next trading session.
Nifty Futures has a major support at 5900. If the index breaks this level, it may see more downward moves.