Index Still In Red Zone
Suparna / 04 Apr 2014
Continuing from the sluggish morning session, the Indian markets are still trading in the red zone. Most of the sectoral indices are hovering in the negative territory with Capital Goods and Auto dragging the indices lower. Nifty is down by 23 points at 6713 and the BSE30 is 88 points lower to trade at 22420.
After witnessing a negative opening in the morning trade, the indices continue to trade in the same range in mid-session. Capital Goods, Auto and Oil & Gas dragged indices on lower side. The Nifty is down by 23 points at 6713 and Sensex is trading 88 points lower at 22420. The indices have moved down in the range of .31%-.39%.
The advance-decline ratio is on the positive side at this hour. On the NSE, 1839 shares are in the green and 1544 shares are in red.
Top 5 Nifty Gainers: PNB is leading the gainers list, up by 1.65%. The other stocks trading higher include DLF, Cipla, Tata Steel and BPCL.
Top 5 Nifty Losers: BHEL is down by 2.43% so far, followed by GAIL, Power Grid, Asian Paints and ONGC.
Most of the sectoral indices saw mixed trade in mid-session. Capital Goods and Auto are down by 95 points each. The Oil & Gas and FMCG indices have both lost more than 50 points. However Mid-Caps and Small-Caps are trading in the positive territory. Bankex, Metals and consumer Durables saw some higher trade.
The Asian markets remained in negative in mid-session as well. Hang Seng is down by 72 points, whereas Nikkei market is down by 9 points, while Taiwan and KOSPI are trading in loss.
Buzzer: BHEL has lost around 2.46% on the bourses and made an intraday low of Rs 182. The stock is trading below its major support level of Rs 190. If it closes below this level, it may move more downside around to Rs 175 in the next 3-4 trading sessions.
Nifty Futures is witnessing steady movement on present scenario. Going ahead, it has a major support around 6730/6710 level.
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