Indices Mildly Positive, Metal surges
Suparna / 04 Mar 2014
Markets opened on sluggish note this morning with the 50 share Nifty index trading up by 20 points at 6241 and the 30 share BSE Sensex up by 83 points to trade at 21029. Asian markets are hovering in positive territory after witnessing a slump owing to the rising geopolitical strain between Russia and Ukraine. Hindalco has gained 2.79% in the morning session so far.
Indian markets opened on flattish note this morning but are currently trading in some positive territory. Global markets are also surging on positive sentiment with Hang Seng and Nikkei driving the markets ahead. As a result the Nifty currently up by 20 points at 6241 and Sensex was up by 83 points at 21029. Both indices opened up in the range of .35% -.40%.
The advance-decline ratio is on the positive side with 1811 shares trading in gains and 1449 shares in red.
Top 5 Nifty Gainers: Hindalco is the top NSE gainer so far, up by 2.79 % followed by Sesa Sterlite, IDFC, Tata Power and Tata Steel.
Top 5 Nifty Losers: DLF is the top loser this morning, trading down by 1.51% followed by Ranbaxy Labs, Sun Pharma, HCL Tech and Dr Reddy’s Labs.
10 out of 13 sectoral indices are trading in the green zone. Metals and Consumers Durables are the top gainer trading in morning session up more than 100 points. Bankex and Oil & Gas are also in gain up by 98 points and 58 points respectively. Mid-Caps and Small-Caps also surged in current scenario. However Healthcare and Auto are down by 77 points and 41 points respectively.
On the global front, the Asian shares are trading on positive sentiment. Nikkei market is up by 41 points, Hang Seng is up by 107 points. However KOSPI and Taiwan index is trading on negative note.
Buzzers: Hindalco stocks opened with some positive sentiment. The stock hit high at Rs 109. It has broken stiff resistance on morning session at Rs 105 level. If it manages to break this level on a closing basis we would see more upward movement up to Rs 112 for further trading session.
Nifty future is trading above the technical level of 6250. The resistance level for further trade will be 6275/6300.
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