Markets Trading Strong, Bankex Surges
Suparna / 02 Jan 2014
The Indian markets saw some recovery, with banking stocks leading the gains among the sectoral indices. Nifty is trading higher by 40 points at 6341 and Sensex is up by 150 points at 21293.
The Indian markets saw some recovery backed by the upward trend in Banking stocks. IT and Bankex pulled the headline indices northward. Nifty is trading up by 40 points at 6341 and Sensex is up by 150 points at 21293. Both indices opened higher in the range of 0.65%.
The advance-decline ratio is on the positive side this morning. On the NSE, 1718 shares are trading in gains and 775 shares are down.
Top Nifty Gainers: Bank of Baroda is the top gainer in today’s morning session, higher by 2.43%, followed by Axis Bank, Power Grid Corporation, PNB and HDFC.
Top Nifty Losers: Bharti Airtel is down by 0.96%. Other stocks trading lower include NTPC, Coal India, Jindal Steel and HCL Tech.
All the sectoral indices are currently in the green zone. Bankex has surged by 176 points this morning, Consumer Durables are up by 59 points and IT has gained 57 points. Mid-Caps and Small-Caps are up by 51 points and 63 points respectively.
The global markets are giving out mixed cues. Nikkei is showing some strength, trading up by112 points. On the other hand, Hang Seng is down by 75 points, while KOSPI and Shanghai Composite are in nominal losses.
Buzzers: Banking stocks are trading higher, including Bank of Baroda (+2.43%), Axis Bank (+2.15%), PNB (+1.79%) and HDFC Bank (+1.78%).
Nifty Futures is trading above its support level of 6370 and is seeing good strength at the current level of 6396.
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