A good start for the week with both indices Nifty and Sensex up around .7% in the early morning trade. Cipla (4.8%), Mahindra & Mahindra (4.6%), Larsen & Toubro (4.4%), Tata Motors (2.4%), State Bank of India (2.2%), Kotak Mahindra Bank (2.2%), Shree Cement (2.1%) are the top gainers in the Nifty 50 index with more than 2% gains. Maruti Suzuki India (-1.2%), Hindalco Industries (-0.8%), Hero MotoCorp (-0.6%), Asian Paints (-0.5%), Bharti Airtel (-0.5%) are in red with more than .5% loss.
But as per the buy vs sell stats more sell is happening which indicates a negative sentiments overall even though markets opened in green. So there is no major positive or negative trend from the domestic front so afternoon trend will be purely depends on Europe opening and US futures. As of now JSW Steel (11%), Shree Cement (9%), Mahindra & Mahindra (6%), Eicher Motors (6%), Power Grid Corporation of India (6%) are attracting more buyers and Titan Company (-51%), IndusInd Bank (-38%), ICICI Bank (-36%), Axis Bank (-32%), Housing Development Finance Corporation (-32%), Reliance Industries (-29%) are with more sellers.
Since it is first hour of trading there is no major volume gainersyet but Cipla (56.2%), Shree Cement (-7.1%), Larsen & Toubro (-41.7%), Mahindra & Mahindra (-52.7%), UltraTech Cement (-56.3%) etc are trading with more volumes compared to their peers.
Mahindra & Mahindra (3.8%), Larsen & Toubro (3.4%), UPL (2.0%), Kotak Mahindra Bank (1.9%), Tata Motors (1.8%), Cipla (1.6%), State Bank of India (1.6%) etc recovered more than 1.5% in first 45 minutes of trade and Bajaj Finance (-1.8%), Cipla (-1.8%), Asian Paints (-1.5%), Maruti Suzuki India (-1.4%), UltraTech Cement (-1.3%) etc dropped more compared to rest of nifty 50 stocks.
Being a Monday we cannot rely fully on the current trend as it can change any time. So be careful.