Markets Positive, Infy Moves Higher
Suparna / 10 Jan 2014
The headline indices seem directionless at the current levels over a lack of major cues. Nifty is trading higher by 10 points at 6179 and Sensex has gained 50 points to move to 20763. Infosys is leading the gains so far.
The Indian markets have been witnessing extreme volatility for the past few days. The indices seem directionless at the current levels over a lack of major cues. Nifty is trading higher by 10 points at 6179 and Sensex has gained 50 points to move to 20763. Both indices are trading higher in the range of 0.25%.
The advance-decline ratio was on the positive side in the morning session. On the NSE, 1548 shares were trading with gains while 1422 shares were down.
Top Nifty Gainers: Infosys is leading the gains, up by 3.43% so far, followed by Jaiprakash Associates, IndusInd Bank, Sun Pharma and DLF.
Top Nifty Losers: Sesa Sterlite is trading down by 2.37%. Other stocks trading in losses include M&M, Power Grid Corp, UltraTech Cement and ICICI Bank.
10 out of the 13 sectors are trading in the green. IT has appreciated by 188 points, Capital Goods is trading higher by 70 points and Oil & Gas is up by 45 points. Mid-Caps and Small-Caps are both up by 5 points and 29 points respectively. On the other hand, Auto and Bankex are down by 51 points and 97 points respectively.
The Asian shares are trading with a mixed sentiment. Nikkei is the top loser, trading lower by 11 points, while Hang Seng has gained 72 points.
Buzzer: Infosys has moved up 3.43% on the bourses to Rs 3568 and is trading near its 52-week high of Rs 3580.50. The company’s Q3 results, which were announced today, saw its net profits grew 19.4% to Rs 2875 crore and a 0.5% rise in revenues to Rs 13026 crore over those in Q2FY13.
Nifty Futures has consolidated in a range of 6200-6220. If the index manages to cross the current levels, it may see some more upward movement.
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