NSE Nifty slips after strong opening; up by 30 points

Indian Stocks markets are trading positive on Tuesday. Markets opened strong but in second hour of trade, most gains were lost due to selling pressure. NSE Nifty was trading with a gain of 30 points at 2.55 p.m.

Among major gainers on NSE were Reliance Capital, UTI Bank, MRPL and ICICI Bank. Reliance Capital was up by almost 10% at 1774. Cairn India was another stock which gained over 8%. Sesa Goa was trading at Rs. 3035 with a gain of 6.7%. Balaji Telefilms, UTV Software Communications, Sun TV were among major gainers.

Among losers were Century Textiles (down by 6.5%), Power Finance Corporation (down by 5.6%), VSNL (down by 5%), HCL Infosystems (down by 3.7%), Novartis India (down by 4%), Wockhardt Limited (down by 4.2%) and Punj Lloyd Limited (down by 3.7%).

Banking Stocks were up with SBI, Andhra Bank, HDFC, HDFC Bank, PNB trading marginally higher than yesterday’s close.

US Stock markets closed marginally higher on Monday. Dow Jones Industrial Average closed 0.48% higher at 12,240. Dow Jones touched a high of 12,281 and a low of 12,069. Nasdaq was also high by 0.66% at 2,320.

Asian indices were strong in early trades. Indian markets may close with a marginal gain. NSE Nifty may close around 4900 levels today.

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