Markets Open With A Positive Sentiment

The India markets opened with a positive sentiment after the rupee made a low of 63.80 per dollar in the morning session. The Nifty is trading higher by 13 points at 5486 level and the Sensex is up by 68 points at 18588. Both the indices opened higher in the range of 0.30 - 0.40%.

The advance-decline ratio is positive in the morning session. On the NSE, 1856 shares are trading with gains and 1437 shares are down.

Top Nifty Gainers: Sesa Goa is the top gainer so far and is trading up by 8.72%. It is followed by BHEL, Tata Power, ACC and Hero MotoCorp.

Top Nifty Losers: ICICI Bank is the top loser so far and is trading lower by 2.7%. It is followed by ONGC, Axis Bank, Tata Steel and Tata Motors.

On the sectoral front, 4 out of the 13 sectors are trading in the green. IT was top gainer this morning. It was seen trading higher by 118 points. It is followed by Capital Goods and Metals, which were up by 102 points and 90 points respectively. Mid-caps and small-caps also were trading with a positive bias of 40 points and 37 points respectively. However, banks were showing some losses as they were trading lower by 50 points.

On the global front, the Asian markets seem positive. The Hang Seng is the top gainer in the region as it trading higher by 186 points. It is followed The KOSPI, Shanghai Composite and the Straits Times. Nikkei is the only marker which is trading on a negative note as it lower by 36 points.

Buzzers: Sesa Goa moved up by more than 10% after the Supreme Court relaxed the mining ban in Goa. The stock made a high of Rs 169.80 per share on the back of this development. Going ahead, if the stock breaks the high, we may see levels of Rs177 per share on the closing today.

Going ahead, major hurdles for the Nifty futures are between 5520 and 5535. If trading is seen to continue above these levels, we can expect to see some more positive movement.