MUMBAI: Indian markets extended overnight gains and were comfortably placed above psychological resistance levels on the March series F&O expiry settlement day. Capital goods, technology and realty stocks led the upmove while auto space was marginally lower.
"The Indian market is exhibiting euphoria of sorts with the key indices advancing for seven straight sessions. It has been mostly a Large-Cap rally, fueled by renewed traction in FII inflows. The juggernaut may roll on for a while till the FIIs turn off the money taps.
In the near-term though, the market does look a bit overheated. So, don't be surprised to see some moderation at higher levels. The Nifty might face some resistance around 5835. The medium-term trend could stay positive, provided the Nifty sustains above 5690.
The F&O indicators are encouraging ahead of the expiry today. Overall rollover is likely to be strong. The small-caps and mid-caps could remain in the limelight as the large-caps run out of steam. Don't allow the excitement to deceive you into weaker counters; remain cautious and stick to quality names," said IIFL report.
At 10:10 am; National Stock Exchange's Nifty was at 5822.35, up 34.70 points or 0.60 per cent. The broader index touched a high of 5830.80 and low of 5803.05 in early trade.
Bombay Stock Exchange's Sensex was at 19415.42, up 125.24 points or 0.65 per cent. The 30-share index touched a high of 19443.48 and low of 19339.75 in trade so far.
BSE Midcap Index was up 0.23 per cent and BSE Smallcap Index moved 0.63 per cent higher.
Amongst the sectoral indices, BSE Capital Goods Index was up 0.99 per cent, BSE IT Index gained 0.99 per cent and BSE Realty Index moved 0.96 per cent higher. BSE Auto Index was down 0.49 per cent.
Hero Honda (3.30%), TCS (2.17%), BHEL (1.70%), ONGC (1.61%) and HDFC (1.57%) were the top Nifty gainers.
Losers pack included M&M (-2.92%), Cipla (-2.20%), Reliance Communications (-2.09%), Bharti Airtel (-1.50%) and Ambuja Cement (-1.10%).
Meanwhile the Asian markets were mixed. Nikkei was down 0.25per cent, Hang Seng was up 0.10 per cent and Taiwan Weighted moved 0.23 per cent lower.
"The Indian market is exhibiting euphoria of sorts with the key indices advancing for seven straight sessions. It has been mostly a Large-Cap rally, fueled by renewed traction in FII inflows. The juggernaut may roll on for a while till the FIIs turn off the money taps.
In the near-term though, the market does look a bit overheated. So, don't be surprised to see some moderation at higher levels. The Nifty might face some resistance around 5835. The medium-term trend could stay positive, provided the Nifty sustains above 5690.
The F&O indicators are encouraging ahead of the expiry today. Overall rollover is likely to be strong. The small-caps and mid-caps could remain in the limelight as the large-caps run out of steam. Don't allow the excitement to deceive you into weaker counters; remain cautious and stick to quality names," said IIFL report.
At 10:10 am; National Stock Exchange's Nifty was at 5822.35, up 34.70 points or 0.60 per cent. The broader index touched a high of 5830.80 and low of 5803.05 in early trade.
Bombay Stock Exchange's Sensex was at 19415.42, up 125.24 points or 0.65 per cent. The 30-share index touched a high of 19443.48 and low of 19339.75 in trade so far.
BSE Midcap Index was up 0.23 per cent and BSE Smallcap Index moved 0.63 per cent higher.
Amongst the sectoral indices, BSE Capital Goods Index was up 0.99 per cent, BSE IT Index gained 0.99 per cent and BSE Realty Index moved 0.96 per cent higher. BSE Auto Index was down 0.49 per cent.
Hero Honda (3.30%), TCS (2.17%), BHEL (1.70%), ONGC (1.61%) and HDFC (1.57%) were the top Nifty gainers.
Losers pack included M&M (-2.92%), Cipla (-2.20%), Reliance Communications (-2.09%), Bharti Airtel (-1.50%) and Ambuja Cement (-1.10%).
Meanwhile the Asian markets were mixed. Nikkei was down 0.25per cent, Hang Seng was up 0.10 per cent and Taiwan Weighted moved 0.23 per cent lower.
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