Market Holds Onto Morning Gains, Nifty Crosses 6500 Mark, Sensex Close To 22000
Suparna / 07 Mar 2014
Positive rally continues in the Indian market as the 50 share Nifty index crossed 6500 mark, up by 116 points to trade at 6517. The 30 share Bombay Stock Exchange is currently up by 380 points to trade at 21891. Major support is coming from Banking and Capital Goods indices which are trading higher by 667 and 430 points respectively. Indian rupee is showing strength against the US dollar and stands at Rs 61 versus one USD. ICICI Bank stocks are up by 7.18%.
After a positive opening, the indices continued to trade on the higher side in mid-session. Currently, Nifty is up by 116 points at 6517 and Sensex has moved up by 380 points to 21891. The indices have moved higher in the range of 1.81%-1.77%.
The advance-decline ratio is negative. On the NSE, 1634 shares are in the green and 1740 shares are in red.
Top Nifty Gainers: Jaiprakash Asso is leading the gainers list, up by 11.24%. Infosys, DLF, Bharti Airtel, ICICI Bank and IndusInd Bank are the other stocks trading higher.
Top Nifty Losers: Dr Reddy’s Labs is down by 4.95% so far, followed by Wipro, Infosys, Lupin and Sun Pharma.
On sectoral indices, 11 out of 13 sectors are on the positive side. Bankex and Capital Goods up by 667 points and 430 point respectively. Oil & Gas are trading in the range of 309 points. Mid-Caps and Small-Caps are up by 32 points and 1 point respectively.
In the Asian markets, Hang Seng turns negative down by 42 points. Nikkei is up by 139 points.
Buzzer: Banking stocks ICICI Bank (up 7.18%), Axis Bank (up 6.12%), State Bank of India (up 5.28%), and HDFC Bank (up 3.63%).
If Nifty Futures crossed major hurdle, may see closing around 6570 level.
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