Indices Still Higher
After seeing an excellent opening to the day’s trades, the Indian markets are continuing to surge in mid-session. Nifty is on a high, up by 102 points at 6096, and Sensex has moved up by 330 points to 20548. The indices have moved up in the range of 1.64%-1.70%.
The advance-decline ratio remains in the positives. On the NSE, 1743 shares are in the green and 1498 shares are in red.
Top Nifty Gainers: ICICI Bank is leading the gainers list, up by 5.3%. BPCL, SBI, Axis Bank and L&T are the other stocks trading higher.
Top Nifty Losers: Bharti Airtel is down by 0.86% so far, followed by NTPC, Hindalco, Infosys and Lupin.
All the sectoral indices have remained on the higher side. Bankex is up by 394 points. Capital Goods and Auto are trading higher more than 200 points each, while Oil & Gas and FMCG are up by more than 100 points. Mid-Caps and Small-Caps are up by 54 points and 49 points respectively.
In the Asian markets, Nikkei is higher by 237 points, Taiwan is up by 70 points and KOSPI is up by 10 points. Straits Times is still trading weak.
Buzzer: ICICI Bank has gained around 5.2% on the bourses, making an intraday high of Rs 1076 so far. The stock is trading above its major resistance of Rs 1050. If it closes above this level, it may move up to Rs 1200 in the next 2-3 trading sessions.
The current scenario suggests that if Nifty Futures moves and sustains above the 6100 level, it may close around 6040.