Markets Still In Red, Nifty Below 6800
Suparna / 25 Apr 2014
Indices continue to trade in the negative zone owing to some impact of the ongoing quarterly result session of the companies. As a result the 50 share Nifty index is trading down by 65 points to an intraday low of 6774 and BSE30 is lower by 209 points at 22664.
The markets continued to trade lower in early afternoon trades. Nifty is trading at an intraday low of 6774, down by 65 points since opening and Sensex is trading 209 points lower at 22664.
On the NSE, the advance-decline ratio is negative with 1427 advances and 1951 declines.
Top Nifty Gainers: M&M is leading the gainers list so far, up by 2.73%. Dr Reddy’s Labs, DLF, HDFC and NMDC are among the others trading higher.
Top Nifty Losers: Cairn India is down by 4.94%, followed by Ambuja Cements, UltraTech Cement, ACC and BPCL.
All most all the sectoral indices have moved into negatives in mid-session. Oil & Gas is down by 176 points, Bankex has lost 132 points, Capital Goods have dipped by 121 points. Mid-Caps and Small-Caps too are trading lower by 29 and 55 points respectively.
In the Asian markets, Hang Seng is down by 339 points and Nikkei is trading up by 24 points. Straits Times and Shanghai Composite too are trading on a negative note.
Buzzer: Deepak Fertilisers & Petrochemicals is up by 4 %. The stock has made an intra-day high of Rs 130.5 so far, after the company announced that its arm acquired marginal stake in Mangalore Chemicals and Fertilisers.
Nifty Futures has failed to sustain at the support level of 6850, and is currently trading at 6822. 6800 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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