Equity indices trade marginally higher after opening flat

The Indian stock market traded marginally higher on Tuesday morning after opening on a flat note.
Around 10.15 a.m., Sensex was trading at 52,940.22, higher by 60.22 points or 0.11 per cent from its previous close of 52,880.00.

It opened at 52,874.85 and has so far touched an intra-day high of 52,984.71 and a low of 52,805.88 points.

The Nifty50 on the National Stock Exchange was trading at 15,865.20, higher by 30.85 points or 0.19 per cent from its previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The index is inching towards the 15,900 mark which is the upper end of the current range. We need to close above this level for the upside to resume which can take the Nifty to 16,100."

"If we are unable to get past 15,900 and close above it, there is always a possibility to take a u-turn from the current levels. The bias is on the upside and any dip or intra-day correction can be utilized to buy this market," he said.

The top gainers on the Sensex were UltraTech Cement, ONGC and HDFC Bank, while the major losers were Tech Mahindra, Reliance Industries and TCS.-IANS