Nifty hovers near 5900; R-Infra, JP Associates, Ranbaxy up - Economic Times

Prices | Financials | Company Info | Reports MUMBAI: The Nifty is on a firm foot but facing some resistance near 5,900 even as global investors resumed buying frontline stocks after the government continued with reforms by approving gas price hike last week. According to analysts, the market trend is looking bullish and the benchmark may consolidate in the near term before touching 6,000 level. At 02:40 pm; the 50-share index was at 5,883.10, up 40.90 points or 0.70 per cent. It touched a high of 5,896.80 and a low of 5,822.20 in trade today. The S&P BSE Sensex was at 19,554.27, up 158.46 points or 0.82 per cent. It touched a high of 19,588.62 and a low of 19,347.57 in trade today. The S&P BSE Midcap Index was up 1.58 per cent and the S&P BSE Smallcap Index was 1.63 per cent higher. The S&P BSE Realty Index rallied 4.78 per cent, the S&P BSE Power Index was 2.47 per cent higher, the S&P BSE Capital Goods Index advanced 2.24 per cent and the S&P BSE Auto Index gained 1.94 per cent. The S&P BSE IT Index was down 1.57 per cent. Reliance Infrastructure (4.54 per cent), Jaiprakash Associates (4.10 per cent), Ranbaxy Laboratories (3.80 per cent), Sesa Goa (3.54 per cent) and Maruti (3.40 per cent) were among the top Nifty gainers. Shares of Reliance Infrastructure gained momentum after its special purpose vehicle Delhi Airport Metro Express (DAMEPL) stopped Airport Metro Express Line and claimed termination payment from Delhi Metro Railway Corporation (DMRC). TCS (2.07 per cent), HCL Tech (2.04 per cent), Infosys (1.62 per cent), ONGC (0.88 per cent) and Sun Pharmaceuticals (0.65 per cent) were among the losers. IT stocks such as TCS, HCL Technologies and Infosys came under pressure in morning trade on Monday, weighed down by continued concerns of immigration bill as well as job cuts. The market breadth was positive on the NSE with 952 gainers against 312 losers. The foreign institutional investors bought shares worth Rs 1,124.31 crore and domestic institutional investors sold equities worth Rs 581.28 crore on Friday as per the provisional data from the National Stock Exchange. The European markets have pared intraday gains and slipped in the red. The FTSE 100 was down 0.30 per cent, the CAC 40 slipped 0.06 per cent and the DAX declined 0.47 per cent. Copyright © 2013 Times Internet Limited. All rights reserved. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHcYNx06O1a3lbNZr-TGEDqN2uQEA&url=http://economictimes.indiatimes.com/markets/stocks/market-news/nifty-hovers-near-5900-r-infra-jp-associates-ranbaxy-up/articleshow/20857956.cms

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