Markets Remain Sluggish

The Indian markets were trading in a small range after the morning session. The indices now need a big trigger to move forward. The Nifty is currently trading up by 9 points at 6017 and Sensex is 6 points higher at 20255. The indices are trading higher between 0.03%-0.16%.

The advance-decline ratio continued in positives in mid-session. On the NSE, 1643 shares are in the green and 1315 shares are in red.

Top 5 Nifty Gainers: Ranbaxy Labs is leading the gainers list so far, up by 3.5%. Tata Motors, NMDC, Lupin and Asian Paints are also trading higher.

Top 5 Nifty Losers: Tata Power has dipped by 2.2%, followed by Hindalco, Kotak Mahindra, HDFC Bank and Sun Pharma.

Of the sectoral indices, Auto is the top gainer, up by 166 points. Metals has gained 73 points and Health Care is trading 53 points higher. Mid-Caps and Small-Caps were also in the positives, up by 40 points each. However, Bankex and Oil & Gas showed some weakness, down 23 points and 20 points respectively.

In the Asian markets, the Nikkei is up 156 points so far. Hang Seng and Taiwan Weighted remained in the red zone, down by 82 points and 30 points respectively.

Buzzer: Tata Motors gain around 3.1% and is trading above its major resistance of Rs 360. If the stock closes above this level, this will indicate the possibility of it moving higher in further trades.

Nifty Futures dipped but managed to recover and is trading above 6050. Above this level, it may continue to move upwards.