Markets In Red, Nifty Trades Below 6700
Suparna / 07 Apr 2014
Indices extend their losses in the mid trading session as a result of heavy sell off in major heavyweight stocks. On global cues the Asian as well as European markets are trading with negative sentiments. Nifty is trading down by 27 points at 6666, whereas the Sensex is trading lower by 112 points at 22249.
The markets continue to trade lower in early afternoon trades. Nifty is trading at 6666, down by 27 points since opening and Sensex is trading 112 points lower at 22249.
On the NSE, the advance-decline ratio is negative with 1560 advances and 1771 declines.
Top Nifty Gainers: UltraTech Cement is leading the gainers list so far, up by 3.19%. Ambuja Cements, NMDC, Asian Paints and Grasim are among the others trading higher.
Top Nifty Losers: Jindal Steel is down by 5.91%, followed by BHEL, DLF, Cipla and IDFC.
On sectoral front, all sectoral indices moved into negatives in mid-session. Capital Goods index is down by 110 points, Bankex index lost 89 points and Metals index dipped by 66 points. Mid-Caps and Small-Caps too are trading lower by 60 points and 4 points respectively.
On the Asian front, Nikkei has lost 254 points. Hang Seng is down by 132 points. Straits Times and Taiwan index too are trading on a negative note.
Buzzer: Housing Development and Infrastructure rose 2.26% to Rs 71 and also made 52 week high at Rs 76.00 as after Nomura Singapore acquired nearly 1 percentage point share in the Mumbai-based real estate firm through an open market transaction.
Nifty Futures has failed to sustain at the support level of 6730 and is currently trading at 6714. 6700 is the next crucial level. While sustaining this level can lead to some recovery, a failure to do so will result in more losses.
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