Markets Trading Weak, Sensex Down By 100 points
Suparna / 11 Apr 2014
Owing to weak global cues, the Indian markets opened in the red zone this morning. IT, Metals and Capital Goods dragged the indices down. At the present hour, Nifty is trading lower by 37 points at 6758 and Sensex is down by 133 points to trade at 22581. Japan’s Nikkei index has fallen to a six month low. INR opened on a weak note and slipped 25 paise to 60.32 per USD.
The Indian markets opened with a flat to negative sentiment after seeing a Profit booking in heavyweights like NTPC, ICICI Bank, L&T, ONGC, BHEL, M&M and SBI, dragged the markets lower. The Nifty is currently trading with a negative bias of 37 points at 6758 and Sensex is down 133 points at 22581. Both indices opened lower in the range of 0.59%-0.54%.
The advance-decline ratio is on the positive side in the morning session. On the NSE, 1762 shares are trading in gains and 1638 shares are down.
Top 5 Nifty Gainers: NMDC is the top gainer for today’s morning session, up by 2.44 %, followed by Sun Pharma, Cipla, Ambuja Cements and Cairn India.
Top 5 Nifty Losers: IndusInd Bank is down by 1.95% as of now. Sesa Sterlite, HDFC, GAIL and Tech Mahindra are also trading lower.
On sectoral front, 11 out of the 13 sectoral indices are trading in the red zone. IT was the highest loser, up by 88 points, followed by Metals, down by 80 points and Capital Goods, which have lost 77 points. Mid-Caps and Small-Caps are both are in green in the range of 46 points. Among those in the green, the Healthcare and Consumer Durable indices were up by 142 points and 101 points respectively.
The Asian shares are reflecting a negative sentiment. The Nikkei market is the top loser this morning, down by 316 points. Hang Seng has also dipped by 153 points. Taiwan Weighted and KOSPI are also down.
Buzzer: GTL Infra, hits 5% upper circuit, after the company has allotted 18.55 lakh equity shares upon conversion of FCCBs at a conversion price of Rs10 per share.
The Nifty is trading at the 6797 level. The level of 6770 will be a major support for further trading sessions.
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