Indices Hold Morning Gains, ICICI Bank Soars
Suparna / 05 Dec 2013
The headline indices have managed to hold their gains in mid-session. Banking, Capitals Goods and Auto stocks are major participants in the rally. At present, Nifty is up by 92 points at 6253 and Sensex is 300 points higher at 21009.
After seeing a gap-up opening, the indices have managed to hold their gains in mid-session. Banking, Capitals Goods and Auto stocks are major participants in the rally. At present, Nifty is up by 92 points at 6253 and Sensex is 300 points higher at 21009. The indices have moved up in the range of 1.45%-1.52%.
The advance-decline ratio is on the positive side. On the NSE, 1747 shares are in the green and 1497 shares are in the red.
Top Nifty Gainers: ICICI Bank is leading the gainers list, up by 6.28%. Other stocks trading higher include IDFC, HDFC Bank, Larsen & Toubro and BHEL.
Top Nifty Losers: Dr Reddy’s Labs is down by 1.67% so far, followed by Sun Pharma, Lupin, Ranbaxy Labs and HCL Tech.
After a strong start, some of the sectors like Healthcare, IT and FMCG dropped slightly. Bankex has gained 554 points and Capital Goods is higher by 319 points. The Metal and Auto indices are also showing some gains, up by 133 points and 130 points respectively. Oil & Gas is higher by 116 points and Consumer Durables is up by 42 points. Mid-Caps and Small-Caps are also in positives.
The Asian markets are still in the red. Nikkei is down by 230 points and Taiwan Weighted has lost 42 points. Shanghai Composite and Hang Seng are also trading nominally lower.
Buzzer: ICICI Bank has gained around 6% and made an intraday high of Rs 1138. The stock is trading above its major support of Rs 1130. If it closes above this level, it may see move of an up-move.
Nifty Futures has sustained at the crucial support levels and is trading at 6259. Sustaining this level can lead to some recovery, while a failure to do so will result in the index seeing more losses.
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