NSE Nifty was trading in positive on May 28th

NSE Nifty was trading in positive terrain for third consecutive day following good global cues. However, the indices came off a bit from their highs today due to profit booking at higher levels. It seemed like they were consolidating after sharp rally in last two days.

Asian markets were trading 0.7-1.7% higher while only Shanghai slipped 0.4%.

The 30-share BSE Sensex was trading at 16774, up 108 points and the Nifty was at 5034, up 31 points. However, the Nifty June future was trading with 22 points discount. The BSE Metal and Realty indices gained 2.6-3%. SAIL, Sterlite Industries, Jindal Steel, Tata Steel and Hindalco from metal segment were up 1.5-4%.

ITC from FMCG space gained 2% and HUL was up 0.6%. ONGC and Cairn India from oil & gas exploration pack rose 1.5% each and Reliance Industries went up 0.6%. RIL has made 5th oil discovery in block CB-ONN-2003/1.

DLF and Unitech from realty segment went up 2% each. Reliance Communications and Idea Cellular from telecom pack moved up 1.2-1.7%; and Bharti Airtel was up just 0.4%.

Suzlon Energy from power space rose nearly 4%. Tata Power, Power Grid and NTPC gained 0.9-1.4%.

ACC from cement pack went up 1.5% and Ambuja Cements up 0.6%.

However, ICICI Bank, Maruti, BPCL, L&T, GAIL, IDFC and Reliance Infrastructure were the only losers.

About 2005 shares advanced while 853 shares declined on the BSE. Nearly 439 shares were unchanged.

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