Sensex Above 22000 Mark, Bankex Up By 2.5%
Suparna / 24 Mar 2014
After witnessing a fresh all time high level the Indian market continues to trade in the positive zone with Sensex crossing the 22000 mark. The 50 share Nifty index is currently up by 77 points at 6573 points and the 30 share BSE is trading higher by 256 points at 22011. Bankex is the biggest gainer up by 359 points, whereas IndusInd Bank is leading the gainers list, going up by 4.09%.
After witnessed positive trade in the morning trade the indices continues a massive buying in mid-session. Bankex, Oil & Gas and Metals saw superb upward move in current session. As a result the Nifty is up by 77 points at 6573 and Sensex is trading 256 points higher at 22011. The indices have moved up in the range of 1.18%-1.20%.
The advance-decline ratio is on the negative side at this hour. On the NSE, 1582 shares are in the green and 1696 shares are in red.
Top 5 Nifty Gainers: IndusInd Bank is leading the gainers list, up by 4.09%. The other stocks trading higher include GAIL, ICICI Bank, ONGC and NMDC.
Top 5 Nifty Losers: NTPC is down by 1.1% so far, followed by HCL Tech, Infosys, Dr Reddy’s Labs and Wipro.
Most of the sectoral indices saw good recovery from the lower end. Bankex and Oil & Gas are up by 359 points and 197 points respectively. The Capital Goods and Metals indices have both gained more than 70 points. Mid-Caps and Small-Caps are also trading in the positive territory. However IT, Healthcare and Consumer Durables saw some weaker trade.
The Asian markets remained in positive in mid-session as well. Hang Seng is up by 373 points, followed by Nikkei market which is up by 251 points. Taiwan, KOSPI and Shanghai Composite are trading in gains.
Buzzer: IndusInd Bank has gained around 4.2% on the bourses and made an intraday high of Rs 492. The stock is trading above its major support level of Rs 485. If it closes above this level, it may move more upside around to Rs 510 in the next 3-4 trading sessions.
Nifty Futures broke its major hurdle which was at 6600. If it closes above this level it will indicate more strength for further move.
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