Sensex Moves Sideways, JP Associates Gains 7.4%

The Indian markets saw low momentum in mid-session today. The Nifty is nominally up by 2 points at 6114 and Sensex has moved up by 32 points to 20640. The indices are trading higher between 0.03%-0.16%. The global markets, on the other hand, have been trading in the same range from the morning trading session.

The advance-decline ratio continues to remain negative. On the NSE, 1239 shares are in the green and 1802 shares are in red.

Top 5 Nifty Gainers: JP Associates is leading the gainers list so far, up by 7.4%. Other stocks trading higher include Tata Steel, Bharti Airtel, Wipro and Asian Paints.

Top 5 Nifty Losers: IndusInd Bank is leading the losers list, having dipped by 2.92, followed by Ranbaxy Labs, IDFC, Bank of Baroda and Tata Power.

Among the sectoral indices, Metals has shot up by 97 points and IT has gained 82 points. However, Bankex has lost over 100 points so far, and Auto and Consumer Durables are also trading lower by 60 points. The Mid-Cap and Small-Cap indices have moved down by 39 points and 42 points respectively.

The scenario in the Asian markets remains the same from the morning session. The Hang Seng is up by 118 points and Taiwan Weighted has gained 93 points.

Buzzer: JP Associates has surged by around 7.4% today. The stock is trading above its major hurdle of Rs 42. If it closes above this level, it may continue with its upward journey.

Nifty Futures has taken good support at the lower level, as we had mentioned in our last update. Going ahead, the index has a major hurdle at the 6155 level.