Equity indices in green, metal stocks surge

Mumbai (IANS) The key Indian equity indices traded in the positive territory on Thursday morning led by healthy buying in metal stocks.

Around 10.40 a.m., Sensex was trading at 49,683.79, higher by 174.64 points or 0.35 per cent from its previous close of 49,509.15.

It opened at 49,868.53 and has touched an intraday high of 49,942.84 and a low of 49,653.67 points.

The Nifty50 on the National Stock Exchange was trading at 14,750.45, higher by 59.75 points or 0.41 per cent from its previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: "We need to get past 14,950 for an upward directional move to commence. If we can do that, we should achieve 15,300 as the next target. If we break 14,500, the markets will drift southwards and retest the recent lows of 14,200. Until either levels are not taken out, the Nifty will be sideways."

The top gainers on the Sensex were HCL Technologies, Bajaj Auto and UltraTech Cement, while the major losers were HDFC Bank, Mahindra & Mahindra and Nestle India.