L&T Hits 52 Week High, Markets Remain Volatile
Suparna / 10 Mar 2014
Markets continue with choppy trading in the mid session as the 30 share Sensex is up by 12 points at 21931 and the 50 share Nifty is up by 5 points at 6533. IDFC is leading the gainer’s list so far, trading higher by 6.76%. On the other hand Larsen and Turbo hit a 52 week high to touch Rs 1242, on the back of new construction orders bagged by the company. Asian markets continue to trade in the negative zone.
A bout of volatility was witnessed as market reduced the intraday losses in afternoon trade. Nifty is trading up by 5 points at 6533 and the Sensex is up by 12 points at 21931. The indices are trading on a positive note between 0.10% and 0.07%.
The advance-decline ratio is on the negative side. On the NSE, 1665 shares are in the green and 1689 shares are in the red.
Top 5 Nifty Gainers: IDFC is leading the gainers list so far and is trading higher by 6.76%. IndusInd Bank, Kotak Mahindra, Maruti Suzuki and BHEL are among other gainers.
Top 5 Nifty Losers: TCS is leading the losers list so far and is trading lower by 3.28%. It is followed by Tata Motors, HCL Tech, Ranbaxy Labs and Hindalco.
In the mid-market session, 8 out of the 13 sectors are seen trading in the green zone. Capital Goods have seen the highest gains and are trading higher by 271 points. Oil & Gas and Bankex were up by 177 points and 175 points respectively. Mid-caps and small-caps also were both up by about 39 points each.
All the Asian markets are trading on a negative note since morning. Hang Seng is the top looser so far and trading down by 395 points. The Nikkei is trading down by 153 points.
Buzzer: Larsen and Toubro, hits 52-week high and surged over 2.63%, touching to Rs 1242. If it sustains at current levels, we may see it at around Rs 1245 per share at closing.
The Nifty future is struggling to break the 6580 level and is currently trading at 6570.
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