Market Surges, Bank Of Baroda Up 7%

The markets saw some positive moves in the post lunch session. Benchmark indices witnessed some buying in sectors like Banks, Capital Goods, Metals and Consumer Durables. At present, the Nifty is up by 37 points at 6267 and the Sensex has moved up by 37 points higher at 21071. The indices are trading higher between 0.18% - 0.26%.

The advance-decline ratio is balanced on both the sides in the mid day-session. On the NSE, 1561 shares are in the green and 1600 shares are trading in the red.

Top 5 Nifty Gainers: Bank Of Baroda is leading the gainers list, trading up by 7.1%. Other stocks trading higher include PNB, SBI, JP Associates and IDFC.

Top 5 Nifty Losers: Ambuja Cement is down by 2.57% so far, followed by M&M, ACC, ONGC and Dr Reddys Labs.

The sectoral indices have moved into the positive zone where the Bankex has gained 187 points and Capitals Goods as well as Metals is up by 80 points each. Consumer Durables is trading 68 points higher. The Mid-Cap and Small-Cap indices also have moved up 60 points and 22 points respectively.

Asian markets are continuing to trade weaker in the mid-session as well. The Nikkei has lost 174 points, followed by the Hang Seng, which is down by 100 points. Also the Taiwan Weighted and the KOSPI have moved down. 

Buzzer: Bank Of Baroda has gained around 7% despite its net profit having declined by 10.24%. The stock broke its major resistance of Rs 600. If it closes above this level, it may continue with this positive momentum.

As we mentioned earlier, Nifty Futures will remain volatiles in the closing session as well. It witnessed a high of 6280 and again declined to 6255 levels.