Showing good results, certain companies surged forward to hit 52 weeks high. In the Banking sector, HDFC bank moved forward 0.5% and IndusInd Bank was up by 1.10%, while Asian Paints moved up with 0.85% increase. Nestle India was also up by 0.51%.
However, Hindustan Unilever, however, was in the red by 0.04%.
By 10.45 in the morning, the NSE Nifty was up by 17 points and was trading at 10,824 points. The BSE Sensex was trading at 35,610, up by 74 points. Top gainers were Titan, Coal India, and Indiabulls Housing Finance. Will the market hold on to its early gains is the factor to be seen.
With good quarterly results, sectors like financials, FMCG, pharma, and banks were surging forward, way ahead of others and were pulling up the market with their good performance. Laggards were sectors in realty, auto and IT which could be seen under pressure. A sluggish movement was seen in the market with mild gains in the benchmark indices.
Shares that were trading at 52-week lows were UCO Bank, Punjab and Sind Bank, Oriental Bank of Commerce and IDFC Bank. Apart from the banking sector, Reliance Naval and Engineering and Idea Cellular were other stocks at one-year lows.
After about an hour of trade, there were 28 stocks in the green while 22 were in the red, showing sluggish movement and indecisive movement in the market.
Consumer Price Index will be the leading factors that would determine the market. Analysts say that there will be a very slight decline in the CPI index.
The Karnataka election results that are expected on Tuesday will make an immediate impact on the market moves.
The global markets are mixed; the sentiment has not affected the banking stocks much, as well as the IT stocks. Geopolitical issues are also to be considered in the market movements at the global level.