The Live Indian Entertainment Blog

MUMBAI: Stocks opened higher Friday tracking the advances across Asian equities. Metals, realty and banking counters were trading with decent

BSE

“The trend continues to remain positive but one has to be cautious at higher levels. Nifty continues to close above its 5, 20 & 50 day moving average of 5116, 4951 and 5020 respectively which shows that positive trend in the market is intact.

This positive trend can be reversed only if Nifty slips below 5,100 levels until that every dip in the market can be taken as a good buying opportunity. For today, support for Nifty is seen at 5100-5080 and resistance is seen at 5,180-5,220,” said Nirmal Bang Securities.

National Stock Exchange’s Nifty is trading at 5142.25, higher by 0.17 per cent or 8.85 points from its previous close. The index touched a high of 5158.10 and low of 5131.80 in early trade.

Bombay Stock Exchange’s Sensex was at 17,200.86, up 32.90 points or 0.19 per cent. The index rose to a high of 17,244.54 from 17,176.02 in trade so far.

BSE Midcap Index was up 0.32 per cent and BSE Smallcap Index gained 0.5 per cent.

Asian stocks, however, headed higher Friday on speculation that Japan’s central bank will loosen monetary policies. The Nikkei gained 0.58 per cent, Topix was up 0.31 per cent, Hang Seng rose 0.09 per cent and Straits Times added 0.03 per cent.

Sentiment was weak in the US markets Thursday on worries that China may move to cool its overheating economy. However, financial shares gained momentum as bipartisan talks on an overhaul of financial regulation, which could hurt bank profits, failed in the US Senate.

The Dow Jones Industrial Average shed 8.31 points, or 0.08 per cent, to 10,559.02. The Standard & Poor’s 500 Index fell 1.83 points, or 0.16 per cent, to 1,143.78. The Nasdaq Composite Index dropped 4.02 points, or 0.17 per cent, to 2,354.93. 

article source:  economictimes