Indian equity benchmarks gained further in opening trade, with the NSE Nifty bouncing above the 5500 mark, supported by infrastructure, financial, metal and select technology companies' shares. Value buying as well as global markets remain quite supportive.
Jai Bala, Chief Market Technician, Cashthechaos.Com says that the Nifty has key resistance at 5690. “But market is nowhere coming near it. The short term resistances are about 5550 and once market tries to take that out then we can talk about bigger levels,” Bala adds.
Among frontliners, Reliance Industries, TCS, BHEL, Wipro, Bharti, Tata Motors, SBI, ICICI Bank, HDFC Bank, PNB, Ranbaxy Labs, L&T, Jaiprakash Associates and Reliance Power were leading the markets higher in early trade.
However, GAIL, Dr Reddy's Labs, BPCL, Tata Power and HUL were marginally in red.
At 9:18 hours IST - The 30-share BSE Sensex was trading at 18,328, up 122 points and the 50-share NSE Nifty gained 33 points at 5,513.
The CNX Midcap went up 40 points to 7,741. Breadth was also strong; about 597 shares advanced as against 196 shares declined on National Stock Exchange.
New listing - Lovable Lingerie surged 29% to Rs 265 as against issue price of Rs 205 a share.
Among frontliners, Reliance Industries, TCS, BHEL, Wipro, Bharti, Tata Motors, SBI, ICICI Bank, HDFC Bank, PNB, Ranbaxy Labs, L&T, Jaiprakash Associates and Reliance Power were leading the markets higher in early trade.
However, GAIL, Dr Reddy's Labs, BPCL, Tata Power and HUL were marginally in red.
At 9:18 hours IST - The 30-share BSE Sensex was trading at 18,328, up 122 points and the 50-share NSE Nifty gained 33 points at 5,513.
The CNX Midcap went up 40 points to 7,741. Breadth was also strong; about 597 shares advanced as against 196 shares declined on National Stock Exchange.
New listing - Lovable Lingerie surged 29% to Rs 265 as against issue price of Rs 205 a share.
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