Sensex Surges, Bankex Up 1.5%

The Indian markets saw positive moves after the RBI announced a 25 bps hike in repo rates. Some amount of buying was seen in the banking sector. At present, the Nifty is up by 32 points at 6133 and Sensex has moved 75 points higher to 20647. The indices are trading higher between 0.43%-0.51%.

The advance-decline ratio is still in negatives in mid-session. On the NSE, 1500 shares are in the green and 1650 shares are in red.

Top 5 Nifty Gainers: Maruti Suzuki is leading the gainers list, up by 6.21%. Other stocks trading higher include JP Associates, Bank of Baroda, Axis Bank and BPCL.

Top 5 Nifty Losers: BHEL is down by 2.06% so far, followed by L&T, ITC, NTPC and TCS.

The sectoral indices have moved into positives. Bankex has gained 427 points, Metals is up by 192 points and Auto is 160 points higher. The Mid-Cap and Small-Cap indices also have moved up around 50 points and 20 points respectively.

In the Asian markets too, the sentiment has seen some change in mid-session. The Hang Seng has gained 92 points, and the Taiwan Weighted and KOSPI markets have also moved up. Nikkei maintains its downward bias, trading lower by 70 points.

Buzzer: Maruti Suzuki has gained around 6.5%. The stock is trading above its major resistance of Rs 1600. If it closes above this level, it may continue with this positive momentum.

Nifty Futures has taken support at the lower level and has broken its major hurdle of 6200. This could be a bullish crossover if the index manages to close above this level.