Equity indices in green; metal, oil & gas stocks surge

The key Indian equity indices traded on a positive note on Friday morning with the Sensex above the 39,900 mark.

Healthy buying was witnessed in metal and oil and gas stocks.

Around 10.40 a.m., Sensex was trading at 39,922.91, higher by 173.06 points or 0.44 per cent from the previous close of 39,749.85.

It opened at 39,779.82 and has touched an intra-day high of 39,988.25 and a low of 39,636.03.

The Nifty50 on the National Stock Exchange was trading at 11,729.55, higher by 58.75 points or 0.5 per cent from its previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: “Yesterday’s low of 11,600 has become a crucial support for the market. If we break that, a wave of shorts might get triggered and we could see a slide till 11,400 levels. The upside resistance is at 11,900-11,950. Until we do not get past that, the bias will be on the sell side.”