Markets Open Positive, Bankex Up 2%
Suparna / 08 Oct 2013
The Indian markets witnessed a gap-up opening this morning after the RBI announced measures to cut MSF rates. The Nifty is up by 51 points at 5958 and Sensex has gained 180 points to move to 20076.
The Indian markets witnessed a gap-up opening this morning after the RBI announced measures to cut MSF rates yesterday evening. The Nifty is up by 51 points at 5958 and Sensex has gained 180 points to move to 20076. Both indices are trading up in the range of 0.88%-0.91%.
The advance-decline ratio is balanced so far. On the NSE, 1633 shares are trading in gains and 1201 shares are down.
Top 5 Nifty Gainers: IndusInd Bank is the top gainer so far, up by 3.5%, followed by DLF, ICICI Bank, Larsen & Toubro and Bharti Airtel.Top 5 Nifty Losers: BPCL is trading down by 0.96%. HCL Tech, Hindalco, Lupin and Ranbaxy Labs are among the other stocks that are lower.
All the sectoral indices are trading in the green in the opening session. Bankex is the top gainer, up by 213 points. Auto has moved up by 126 points, Capital Goods is up by 110 points, FMCG has gained 60 points so far, while Health Care and IT are higher by around 20 points each. Mid-Caps and Small-Caps are also both up by around 30 points.
The Asian markets are also witnessing positive trades. The The Hang Seng is up by 247 points, while Nikkei has gained 68 points. Taiwan Weighted and Shanghai Composite are also seeing positive moves.
Buzzers: IndusInd Bank has gained more than 3.4% in the morning trades. The scrip has broken its technical level of Rs 400, and if it sustains above this level it may see more up-moves.
Nifty Futures has broken its intraday crossover around the 5980 level. The index may move up to 6040 if it sustains this bullish crossover.
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