Nifty above 5450; Unitech, DLF, ICICI Bank up

Benchmarks were moving in a range with positive bias Monday taking cues from Asian peers. The upmove was led by realty, banks and metals while IT stocks were a little subdued.

“Friday’s much-awaited US jobs report have only added to the external risks. But, the fact that Wall Street did not suffer too much damage could help the bulls stage a recovery.

Asian markets too seem to have taken the US jobs data in stride. Most of them are flat to slightly positive. So, the start will be a little sluggish but the finish might be better, provided world equities cooperate.

Apart from the global risks, sentiment is also getting affected by unfavorable risk-reward ratio and ‘rich’ valuations. Still, FII inflows remain fairly strong and will continue to support the market in case of a correction,” said IIFL report.

At 10:30 am, National Stock Exchange’s Nifty was at 5457.20, up 17.95 points or 0.33 per cent. The index touched a high of 5460.70 and low of 5433.25.

Bombay Stock Exchange’s Sensex was at 18200.28, up 56.29 points or 0.31 per cent. The 30-share index hit a high of 18210.99 and low of 18139.90.

BSE Midcap Index was up 0.81 per cent and BSE Smallcap Index moved 1.15 per cent higher.

Amongst the sectoral indices, BSE Realty Index moved 2.12 per cent higher, BSE Bankex gained 0.66 per cent and BSE Metal Index advanced 0.52 per cent.

Unitech (3.35%), DLF (2.78%), ICICI Bank (1.92%), Power Grid (1.66%) and Kotak Bank (1.35%) were amongst the top Nifty gainers.

Losers included Axis Bank (-1.31%), HCL Tech (-1.19%), Wipro (-0.77%), Cipla (-0.67%) and GAIL (-0.59%).

Market breadth was positive on the NSE with 2209 gainers against 1002 losers.

Asian markets were mixed. Nikkei 225 was down 0.93 per cent, Seoul Composite slipped 0.02 per cent and Taiwan Weighted was up 0.85 per cent.

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Tags: BSE, DLF, ICICI Bank, NSE

Category: Stock-News