Indices Regain After January 2014 Trade Data
Suparna / 11 Feb 2014
Markets gained marginally in the mid-session on the backdrop of the January 2014 trade data. Trade deficit was at USD 9.92 billion in January 2014 compared to USD 10.14 billion in December 2013. Exports rose 1.5% at USD 26.75 billion in January 2014 over December 2013. Following the trade data result IT sector was up by 101 points.
After a positive opening, the indices continued to trade on the flat note in mid-session. Currently, Nifty is up by 15 points at 6068 and Sensex has moved up by 51 points to 20383. The indices have moved higher in the range of 0.24% each.
The advance-decline ratio is negative. On the NSE, 1566 shares are in the green and 1703 shares are in red.
Top Nifty Gainers: HCL Tech is leading the gainers list, up by 3.69%. Tata Motors, Jaiprakash Asso, Tata Steel and ONGC are the other stocks trading higher.
Top Nifty Losers: Hero Motocorp is down by 1.85% so far, followed by Reliance, Hindalco, PNB and Power Grid Corp.
On sectoral indices 11 out of 13 indices are on the positive side. IT and Auto are up by 101 points and 89 points respectively. Bankex are trading in the range of 57 points higher. Mid-Caps and Small-Caps also gained 10 points.
The Asian markets continued to maintain their momentum. The Hang Seng is up by 383 points. Nikkei is up by 255 points. Straits Times and KOSPI too were trading on a positive note.
Buzzer: Manappuram Finance has gained around 13 % on the bourses, making an intraday high of Rs 24.10 so far after CRISIL has revised its rating outlook. It may see more up-move in the counter.
If Nifty Future crossed major hurdle at 6064, may see closing around 6090 level.
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