Markets Open In Positive Mode; Tata Motors Surge Ahead On Strong Q3 Results
Suparna / 11 Feb 2014
Markets opened on a marginally positive note this morning, with the Indian rupee trading higher by 6 paise at 62.37 against the US dollar. Tata Motors is the biggest gainer so far up by 2.97%, this after the company announced its Q3FY14 results which showed a consolidated net profit increase of 195%.
The Indian markets opened in gains this morning, and are currently trading flat, positive. Both Sensex and Nifty are up by 0.20%. Nifty is trading up by 9 points at 6063 and Sensex is at 20381 up by 49 points. IT and Auto stocks have pulled the headline indices northward.
The advance-decline ratio is on the positive side. On the NSE, 1687 shares are trading in gains and 1548 shares are down, while 308 shares remain unchanged.
Top Nifty Gainers: Tata Motors is the top gainer so far, and is trading higher by 2.97%, followed by HCL Tech, Ranbaxy Labs, Wipro and TCS.
Top Nifty Losers: Cipla is down 1.99%. Bharti Airtel, Hindalco, PNB and UltraTech Cement are among the other stocks clocking losses.
9 out of the 13 indices are trading in green. IT is seeing the strongest gains, up by 103points, Auto has gained 85 points and Capital Goods are 66 points higher. Mid-Caps and Small-Caps are up by 15 points and 28 points respectively.
Asian markets are trading higher on Tuesday, Hang Seng is highest gainer up by 382 points. It is followed by Nikkei up by 255 points. KOSPI and Shanghai are trading on positive note.
Buzzer: The stock of Tata Motors has touched Rs 382.70, gaining 2.93% on strong Q3 results. The company's consolidated net profit surged 195.23% to Rs 4804.80 crore on 38.37% increase in total income to Rs 64,034.30 crore in Q3 December 2013 over Q3 December 2012.
Nifty is currently trading at 6079 and is likely to face resistance around the 6150 level.
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