MUMBAI: Equities continued to gain momentum as buying activity picked up across the board. Retail participation was seen in midcap stocks as broader markets outperformed the benchmarks. Analysts are advising caution at higher levels on account to low volumes trade.
At 10:10 am; Bombay Stock Exchange’s Sensex was at 20506.15, up 117.08 points or 0.57 per cent. The 30-share index touched a high of 20519.85 and low of 20412.76 in trade so far.
National Stock Exchange’s Nifty was at 6126.55, up 24.70 points or 0.40 per cent. The broader index touched a high of 6138.15 and low of 6103.55 intraday.
“Nifty is holding firmly above its short term 20 & 50-day moving average of 5964 & 6015 which is a very positive indication. However, the overall trend remains lackluster as the trading volumes are very low at higher levels.
Going forward it’s very important that the markets continue to witness follow-up buying above the 6100 levels for further positive development. Strong support for Nifty future is seen at 6070 and resistance is seen in the range of 6140 – 6180 levels where profit booking or fresh selling could emerge,” said Nirmal Bang report.
BSE Midcap Index was up 1.01 per cent and BSE Smallcap Index rose 1.15 per cent.
Amongst the sectoral indices, BSE Realty Index gained 1.73 per cent, BSE Capital Good Index moved 1.10 per cent higher and BSE Bankex advanced 0.93 per cent.
Jaiprakash Associates (3.01%), Reliance Communications (2.93%), Reliance Infrastructure (1.90%), DLF (1.83%) and Bajaj Auto (1.46%) were amongst the top Nifty gainers.
Sterlite Industries (-0.42%), Hero Honda (-0.38%), NTPC (-0.32%), Infosys Technologies (-0.25%) and ONGC (-0.10%) led the losers pack.
Market breadth was positive on the BSE with 1818 advances as compared to 618 declines.
Meanwhile, the Asian markets were mixed. Nikkei 225 was down 1.12 per cent and Strait Times was down 0.12 per cent. Taiwan Weighted was up 0.80 per cent and Seoul Composite edged 0.37 higher.
ET
At 10:10 am; Bombay Stock Exchange’s Sensex was at 20506.15, up 117.08 points or 0.57 per cent. The 30-share index touched a high of 20519.85 and low of 20412.76 in trade so far.
National Stock Exchange’s Nifty was at 6126.55, up 24.70 points or 0.40 per cent. The broader index touched a high of 6138.15 and low of 6103.55 intraday.
“Nifty is holding firmly above its short term 20 & 50-day moving average of 5964 & 6015 which is a very positive indication. However, the overall trend remains lackluster as the trading volumes are very low at higher levels.
Going forward it’s very important that the markets continue to witness follow-up buying above the 6100 levels for further positive development. Strong support for Nifty future is seen at 6070 and resistance is seen in the range of 6140 – 6180 levels where profit booking or fresh selling could emerge,” said Nirmal Bang report.
BSE Midcap Index was up 1.01 per cent and BSE Smallcap Index rose 1.15 per cent.
Amongst the sectoral indices, BSE Realty Index gained 1.73 per cent, BSE Capital Good Index moved 1.10 per cent higher and BSE Bankex advanced 0.93 per cent.
Jaiprakash Associates (3.01%), Reliance Communications (2.93%), Reliance Infrastructure (1.90%), DLF (1.83%) and Bajaj Auto (1.46%) were amongst the top Nifty gainers.
Sterlite Industries (-0.42%), Hero Honda (-0.38%), NTPC (-0.32%), Infosys Technologies (-0.25%) and ONGC (-0.10%) led the losers pack.
Market breadth was positive on the BSE with 1818 advances as compared to 618 declines.
Meanwhile, the Asian markets were mixed. Nikkei 225 was down 1.12 per cent and Strait Times was down 0.12 per cent. Taiwan Weighted was up 0.80 per cent and Seoul Composite edged 0.37 higher.
ET
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