Indian markets traded strongly in morning trade on July 5, with more than 500 stocks including Welspun India and Apollo Hospitals Enterprises. They also included Balkrishna Industries, Balkrishna Industries, Bajaj Hindusthan Sugar and Balkrishna Industries. The Indian market reached their 52-week high intraday on BSE.Crompton Greaves Consumer Electrics, Divis Laboratories and ICICI Prudential Life Insurance Company were also among the stocks that reached fresh 52-week highs.The Indian market saw healthy gains that mirror the trends of Asian peers.Most Asian stocks gained Monday, extending the rally which took global equities up to a record high. The rally was triggered by a US jobs report that indicated the economic recovery remained intact, but did not warrant an immediate withdrawal of Federal Reserve stimulus.The Sensex, the flagship index, jumped more than 350 points and the Nifty50 traded over 15,800. At 1040 hours, Sensex was standing at 52,821, an increase of 337 points or 0.64 per cent, while the Nifty was trading at 15,823, an increase of 101 points or 0.64 per cent.Here you can track live market updatesThe Nifty received support at the 15,600-15.650 level during the previous session, July 2. We have bounced back from there this morning and can scale up to 16,100 if we get beyond 15,900 on closing basis," stated Manish Hathiramani (Proprietary Index Trader, Technical Analyst, Deen Dayal Investments)."The markets remain range-bound between 15,400 to 15,900, and until we get above one of these levels, there will be no meaningful movement." Hathiramani said that the bias is still on the upside.Moneycontrol.com's investment experts do not represent the views or investment advice of the site. Moneycontrol.com recommends that users consult certified experts before making any investment decisions.
