Index Holds Morning Gains, Metals Shines
Suparna / 26 Mar 2014
Indian markets continued to hold onto the morning gains as indices are rallying on the upper side. Metals and Capital Goods are the top performers in the mid trading session. At this point of hour the Nifty is up by 20 points at 6610 and the BSE Sensex is higher by 67 points at 22123.
After witnessing a positive opening in the morning trade, the indices continue to trade in the same range in mid-session. Metals, Capital Goods and Auto pulled the indices on upper side. The Nifty is up by 20 points at 6610 and Sensex is trading 67 points higher at 22123. The indices have moved up in the range of .31%-.34%.
The advance-decline ratio is on the negative side at this hour. On the NSE, 1575 shares are in the green and 1765 shares are in red.
Top 5 Nifty Gainers: Hindalco is leading the gainers list, up by 3.52%. The other stocks trading higher include Jindal Steel, IDFC, Tata Motors and Sesa Sterlite.
Top 5 Nifty Losers: Sun Pharama is down by 2.47% so far, followed by Dr Reddy’s Labs, Lupin, ITC and TCS.
Most of the sectoral indices saw positive trade in mid-session. Capital Goods and Metals are up by 196 and 160 points respectively. The Auto and Oil & Gas indices have both gained more than 140 points. Mid-Caps and Small-Caps are also trading in the positive territory. However Healthcare, FMCG and IT saw some weaker trade.
The Asian markets remained in positive in mid-session as well. Hang Seng is up by 155 points, whereas Nikkei market is up by 53 points. Taiwan and Shanghai Composite are also trading in gains.
Buzzer: Hindalco has gained around 3.3% on the bourses and made an intraday high of Rs 125. The stock is trading above its major support level of Rs 120. If it closes above this level, it may move more upside around to Rs 130 in the next 3-4 trading sessions.
Nifty Futures witnessing study movement on present scenario. Going ahead, if it sustains above 6600 level it may cross the major hurdle which is at 6641 level.
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