NTPC, Tata Motors, Hindalco and Coal India were among top gainers on NSE during the early trades. Pharmaceutical stocks were in focus with Cipla, Sun Pharma, Dr Reddy’s, Divis Labs and Glenmark Pharmaceuticals trading strong. NSE Nifty was trading 85 points higher at 11.30 am with majority of index stocks trading positive. The markets have received support from overnight gains witnessed by US stock markets. The recent decline in global markets has led to attractive valuations for certain stocks. Also, we can expect a technical bounce but some market experts believe that selling on rallies could be a good strategy as overall short-term trend looks bearish.

NTPC was up by almost 4 percent at Rs 278. Dr Reddy’s, Cipla and Sun Pharma were trading with gains over 3 percent. Glenmark Pharmaceuticals was trading 6.2 percent higher.

Among losers on NSE were LTIMindtree, Adani Enterprises, Infosys Technologies, HCL Technologies, Tech Mahindra and Axis Bank. The IT index was down as majority of IT stocks were trading in the red.

We can expect Indian markets to close positive today but the closing would also depend on the trends in the US futures.

All trades should be conducted with strict Stop Loss. Markets can have unpredicted moves based on news and trends in the global markets. Stop Loss is an important strategy to reduce the risk in case the stock doesn’t move as per the call given by market experts.