Markets Rally, Metals in Focus

The Indian markets are trading with a positive bias after the Global scenario looked sturdy from last couple of sessions. The Metal counters like Tata Steel and Hindalco took the charge and showed omnipresent buying. This was followed by Banking stocks, as the index is up by 156 points. The Nifty is trading at 8172 up by 43 points and Sensex is trading at 27013 up by 167 points.

The advance-decline ratio tilted towards the positive side in the morning session. On the NSE, currently 1442 shares are trading in gains and 1047 shares are trading in red.

Top Nifty Gainers: Vedanta was the top gainer in the morning session up by 10.50% followed by Tata Steel, ICICI Bank, Hindalco and HCL Tech.

Top Nifty Losers: Asian Paints was the top loser for morning session down by 2.38% followed by Coal India, Bank Of Baroda, BPCL and Sun Pharma.

On a sectoral basis 11 out of 13 sectoral indices are trading in green. Metal was the top gainer trading in morning session up by 114 points. It is followed by Bankex, Auto and Capital Goods up around 100 points each. FMCG, Healthcare and IT also were trading in green territory. However Oil & Gas, Mid-Caps and Small-Caps range bound, are trading in negative territory.  

On the global front, the Asian shares are sending out mixed cues. The Nikkei is the top gainer for today’s morning session up by 297 points. The Hang Seng is up by 103 points. The KOSPI and Shanghai Composite are trading on a positive note.

Buzzers::- Tata Steel (4.4%), Hindalco (2.4%), (6.05%), Tata Motors (2.7%) and ONGC (2.2%) were among the top Nifty gainers.

The Nifty future has taken a support of around 8150-8110. Going ahead, 8250 will be the major hurdle for Nifty Future. if it closes above this mark it may be considered  as fresh breakout for further trade.