Bulls At Work, IT Index Up 3.5%
Suparna / 11 Oct 2013
The Indian markets witnessed a gap-up opening this morning. IT giant Infosys announced its Q2 results before market opening today, and has gained over 5%. Nifty is up by 59 points at 6079 and Sensex has gained 200 points to move to 20476.
The Indian markets witnessed a gap-up opening this morning as IT giant Infosys announced its second quarter results before market opening. The Nifty is up by 59 points at 6079 and Sensex has gained 200 points to move to 20476. Both indices are trading higher in the range of 0.93%-0.99%.
The advance-decline ratio is in the green zone so far. On the NSE, 1717 shares are trading in gains and 1258 shares are down.
Top 5 Nifty Gainers: Infosys is the top gainer so far, up by 5.3%, followed by HCL Tech, Ranbaxy Labs, DLF and Bank of Baroda.
Top 5 Nifty Losers: Sesa Sterlite is down by 1.18%. Hindalco, Sun Pharma, Grasim and BHEL are among the other stocks that are trading lower.
Most of the sectoral indices are trading in gains in the opening session. IT has moved up strongly by 300 points, Bankex is up by 163 points and Capital Goods is 114 points higher. Mid-Caps and Small-Caps are also both up by around 40 points. Consumer Durables and Metal are down by 35 points and 22 points respectively.
The Asian markets are also in positives. Hang Seng is up by 285 points, while Nikkei has gained 165 points. KOSPI and Shanghai Composite are also trading higher.
Buzzers: Most of the IT stocks made their 52-week highs today. Infosys touched the Rs 3338 mark, HCL Tech was at Rs 1168, TCS at Rs 2138 and Tech Mahindra at Rs 1563.
Nifty Futures has broken its intraday crossover around the 6100 level. The index may move up to 6140 if it sustains this bullish crossover.
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