Markets In Positive Zone, Hindalco In Focus
Suparna / 04 Mar 2014
Most of indices witnessed a good recovery in the mid-session with Bankex and Metals both up by 270 points each. Both the indexes have crossed their psychological barrier and currently the Nifty is up by 72 points at 6293 and Sensex has risen by 243 points at 21189. Hindalco is leading the gainer’s list, up by 7.1%. Asian markets are trading in positive zone.
After witnessing some sluggish trade in the morning trade the indices witnessed a massive buying in mid-session. Bankex, Capital Goods and Metals saw superb upward move in current session. As a result the Nifty is up by 72 points at 6293 and Sensex is trading 243 points higher at 21189. The indices have moved up in the range of 1.15%-1.18%.
The advance-decline ratio is on the positive side at this hour. On the NSE, 1813 shares are in the green and 1444 shares are in red.
Top 5 Nifty Gainers: Hindalco is leading the gainers list, up by 7.1%. The other stocks trading higher include Bank Of Baroda, IDFC, IndusInd Bank and Sesa Sterlite.
Top 5 Nifty Losers: HCL Tech is down by 1.7% so far, followed by Sun Pharma, JP Associates, Bajaj Auto and DLF.
Most of the sectoral indices saw good recovery from the lower end. Bankex and Metals are up by 270 points each. The Capital Goods and Consumer Durables indices have both gained more than 100 points. Mid-Caps and Small-Caps are also trading in the positive territory.
The Asian markets remained in positive in mid-session as well. Hang Seng is up by 156 points, followed by Nikkei market which is up by 70 points. However Taiwan, KOSPI and Shanghai Composite are trading in loss.
Buzzer: Bank Baroda has gained around 5.2% on the bourses and made an intraday high of Rs 577. The stock is trading above its major support level of Rs 575. If it closes above this level, it may move more upside around to Rs 585 in the next 3-4 trading sessions.
Nifty Futures broke its major hurdle which was at 6300. If it closes above this level it will indicate more strength for further move.
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