Nifty Still In Red Zone, IndusInd Bank, Wipro Down
Suparna / 11 Apr 2014
Investors in the Indian equity markets seem to trade cautiously ahead of the fourth quarter results. Most of the sectors are trading in the negative zone with Bankex and Capital Goods leading the losers list. The Nifty at this point of the hour is down by 42 points at 6754 and the BSE is down by 149 points at 22565.
After witnessing a negative opening in the morning trade, the indices continue to trade in the same range in mid-session as well. Bankex, Capital Goods and Oil & Gas dragged indices on the lower side down more than 100 points each. The Nifty is trading down by 42 points at 6754 and Sensex is trading 149 points lower at 22565. The indices have moved down in the range of .62%-.66%.
The advance-decline ratio is on the positive side at this hour. On the NSE, 1716 shares are in the green and 1636 shares are in red.
Top 5 Nifty Gainers: Sun Pharma is leading the gainers list, up by 2.06%. The other stocks trading higher include NMDC, Ambuja Cement, Dr Reddy’s Labs and HCL Tech.
Top 5 Nifty Losers: IndusInd Bank is down by 2.81% so far, followed by HDFC, United Spirits, Wipro and M&M.
Most of the sectoral indices saw negative trade in mid-session. Bankex, Capital Goods and Oil & Gas are down by more than 100 points each. The Auto and IT indices have both lost more than 70 points. However Mid-Caps and Small-Caps are trading in the positive territory. Health Care, Metals and Consumer Durables saw some higher trade.
The Asian markets remained negative in mid-session as well. Hang Seng is down by 183 points, whereas Nikkei market is down by 340 points, while Taiwan and KOSPI are trading in loss.
Buzzer: IndusInd Bank has lost around 2.96% on the bourses and made an intraday low of Rs 497. The stock is trading below its major support level of Rs 500. If it closes below this level, it may move more downside around to Rs 475 in the next 3-4 trading sessions.
Nifty Futures is witnessing steady movement on present scenario. Going ahead, it has a major support around 6770/6755 level.
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