DSIJ Mindshare

Sensex Holds Morning Gains, Axis Bank Up 5%

After a gap-up opening today, the indices have managed to hold their gains in mid-session. The major participants in the up-move are stocks from the Banking, Auto and Capitals Goods segments. Nifty is currently up by 85 points at 6074 and Sensex is trading 280 points higher at 20475. The indices have moved up in the range of 1.39%-1.42%.

The advance-decline ratio is on the positive side at this hour. On the NSE, 1881 shares are in green and 1356 shares are in the red zone.

Top 5 Nifty Gainers: Axis Bank is leading the gainers list, up by 5.7%. Other stocks trading higher include Tata Motors, ICICI Bank, JP Associates and Tata Steel.

Top 5 Nifty Losers: Coal India is down by 3.2% so far, followed by Cipla, HCL Tech, Sun Pharma and Lupin.

The sectoral indices have remained higher too. Bankex and Auto are up by over 300 points. Capital Goods have gained 280 points and Metals are up by 108 points. Oil & Gas and Consumer Durables are trading higher by 50 points each. Mid-Caps and Small-Caps are also in positives.

The Asian markets remained in the green in mid-session as well. Nikkei has moved up by 309 points, Hang Seng is trading with gains of 198 points, and Shanghai Composite and Taiwan Weighted are also nominally higher.

Buzzer: Tata Steel has gained around 4% and made an intraday high of Rs 374 so far. The stock is trading above its major support of Rs 370. If it closes above this level, may move up to Rs 400 in the next 3-4 trading sessions.

Nifty Futures has surged and is trading above the technical level of 6100. If the index beaks today’s high, it may close near the 6150 level.

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