Bulls Active, Indices Up 1.3%

The Indian markets opened on a positive note today and then suddenly saw a spike. Currently, Nifty is up by 82 points at 6174 and Sensex has moved 263 points higher to trade at 20799. The indices have gained more than 1.2% each. All the sectoral indices are trading in the green. Bankex is the top gainer, up by more than 2%.

The advance-decline ratio is in positives at this hour. On the NSE, 1858 shares are trading in gains and 1364 shares are down.

JP Associates is leading the gainers list this morning, up by 3.54%, followed by Sesa Sterlite, ICICI Bank, NMDC and GAIL. There are no losses on the index as of now.

Among the sectoral indices, Bankex and Metals are the top gainers so far, up 256 points and 127 points respectively. Capital Goods, Healthcare and Oil & Gas are up in the range of 60-90 points. Mid-Caps and Small-Caps have moved higher by 60 points and 54 points respectively. The IT, FMCG and Consumer Durables indices, which were in the lead yesterday, are showing nominal up-moves.

In the Asian markets, Nikkei is up by 277 points. Taiwan, KOSPI and Straits Times are also witnessing gains. Hang Seng is trading negative, down by 70 points.

Buzzer: GAIL has gained 6.9% in the opening session. The stock has made an intraday high of Rs 341 so far. If it breaks today’s higher level, the stock may close around Rs 350.

Nifty Futures has managed to hold above the 6200 level, indicating more positive trades ahead.