Markets Trading Strong

The markets saw a 2% gap-up opening today, supported by Banking and Capital Goods stocks, which moved sharply northwards. Nifty is currently trading up by 113 points at 6274 and Sensex has moved up by 371 points to 21080. Both indices are higher in the range of 1.75-1.85%.

The advance-decline ratio is the positive side this morning. On the NSE, 1914 shares are trading in gains and 1355 shares are down.

Top Nifty Gainers: ICICI Bank is the highest gainer so far, up by 6%. Other stocks trading higher include IDFC, HDFC Bank, Axis Bank and Larsen & Toubro.

Top Nifty Losers: Dr Reddy’s Labs is trading lower by 0.33%, followed by Cairn India, Wipro and Sun Pharma.

12 out of the 13 sectoral indices are trading in green. Bankex is the top gainer, surging by a whopping 541 points. Capital Goods has gained 296 points, Oil & Gas is up by 148 points and Auto is trading 166 points higher. Mid-Caps and Small-Caps are up by 63 points and 48 points respectively.

The Asian markets, though, are trading in the red. Nikkei is down by 116 points and Hang Seng has dipped 75 points. KOSPI and Shanghai Composite are also witnessing nominal losses.

Buzzer: ICICI Bank has surged by more than 6%, touching a high of Rs 1131.35 so far. Over 1.57 lakh shares have traded on the BSE in the morning trading session, as against the two-week average volume of 3.40 lakh shares.

Nifty Futures is showing good strength at the current levels around 6315, and is trading above its resistance level of 6250-6270.