Morning surprise at the Dalal street: Know what!

The Nifty had a surprise positive start on Tuesday as traders used the dip below the crucial 200-DMA as an opportunity to buy beaten down blue chips.

The Nifty traded at 8,377 points, up 17 points in early deals. The Advance-Decline Ratio was at 31/19 with Zee Entertainment, ICICI Bank, Idea and Tech Mahindra gaining ground compared with NMDC, Tata Motors, ONGC, Wipro and PNB lying low in initial trades. The Bank Nifty rose 64 points to 18,277 points. Other major indices posting early morning gains were the CNX Media Index and CNXPSU Bank Index, whereas the CNX FMCG Index dipped in the first 20 minutes of trade.

And on the Bombay Stock Exchange, the Sensex rose 18 points at 27,579 points in early morning deals on Tuesday. Stocks that led gainers included BHEL, Larsen, Maruti and Dr. Reddy's while GAIL, Axis Bank and Hindustan Unilever were on top of the losers’ list. As a consequence, the Advance-Decline Ratio stood at 16/14.

But the markets weak in the futures and options space with JP Power and Sun TV showing up on the top losers’ list versus IB Real Estate and Ceat that rose. The Advance-Decline Ratio stood at 59/99.

The broader market showed the dominance of bulls with 1,074 shares gaining ground compared with 449 that lost.

Stocks that hit fresh highs on the NSE were Rajesh Exports, KEC International and NRB Bearings among others.

(Image credits: Indiatimes)