The Indian Benchmark indices opened on a positive note at 12190.15 while Sensex is opened at 41510.19. Nifty is holding the levels of 12200 and trading in the range of 12190 to 12250. On hourly chart it is sustaining above 50 days and 200 days moving averages. Nifty futures open interest down by 1.8%, sheds 2.3 lakhs shares in open interest across the series. The overall market breadth is tilted in the favor of buyers as 939 stocks are advanced and 616 shares are declined. Among sectors, except fmcg and realty, all the sectors are trading with bullish biasness. In hourly chart, the RSI is trading at 58.81 level with no sign of divergence. Indian rupee opened at 71.33 per dollar against the previous close of 71.32 per dollar.
Niftybank: It is opened on a gap up note at 31281.85 and trading on lower levels. For upcoming few trading session it will consolidate in the range bound manner. Nifty Bank futures open interest up by 6%, adds 74000 shares in open interest across the series.
Stocks in Limelight:
NESTLEIND: Q3 Result: The company profit jumped 38.4% to Rs 473 cr, revenue rose 8.7% to Rs 3,149.3 cr YoY.
BPCL: Q3 Result: Net Profit down 26.2% at Rs 1,260 crore versus Rs 1,708.4 crore, revenue up 13.7% at Rs 85,368.3 crore versus Rs 75,056.6 crore, QoQ.
FUTURE RETAIL: The company appointed Mr. Kishore Biyani appointed as executive chairman, Rakesh Biyani re-designated as managing director and Sanjay Jain appointed as CEO w.e.f March 5.
Results Today: ONGC, Madhav Infra Projects, Corporate Courier and Cargo, DCM, Delta Leasing & Finance, Embassy Office Parks REIT, Eveready Industries India, Fortis Healthcare and MMTC.