Markets Vigilant, Nifty Below 6800
Suparna / 28 Apr 2014
The first day of the week witnessed a cautious opening by the Indian markets as profit booking continues to drag the indices lower. The stock market which is currently observing the wait and watch election period is heavily betting on a stable government in the coming days. As a result volatility among indices is the trending line for the time being. At the current hour the Nifty index is negative 23 points at 6759 and the Sensex is lower by 60 points to trade at 22629 levels. Asian share opened with negative sentiment as well.
The India markets trade in negative sentiment after witnessing uptrend earlier in last week led by profit booking. As a result the indices tanked the Nifty down by 23 points at 6759 level and Sensex down by 60 points at 22629 levels. Both indices trading down in the range of 0.40%
The advance-decline ratio is on the negative side in the morning session. On the NSE, 1692 shares are trading in gains and 1732 shares are down.
Top Nifty Gainers: Lupin is the top gainer for today’s morning session up by 1.50% followed by Sun Pharma, Dr Reddy’s Labs, Tech Mahindra and Cipla.
Top Nifty Losers: IDFC is the top loser for today’s morning session down by 2.54% followed by Ambuja Cements, BHEL, GAIL and Bharti Airtel.
On the sectorial view 8 out of 13 sectors trading in red. Capital Goods was the top loser trading in morning session down by 69 points, followed by Auto and Bankex which are down by 61 points and 38 points. Mid-Caps and Small-Caps are trading in positive bias up by 10 and 19 points respectively. However Healthcare was showing some strength up by 127 points.
On the global front, all the Asian shares are trading on negative sentiment. The Nikkei market is top loser for today’s morning session down by 172 points, followed by the Hang Seng down by 90 points. The Shanghai Composite and the Straits Times trade on some negative note.
Buzzers::- Lupin gained 2% and hit 52 week record high to Rs 1,014 in intraday trade.
Nifty broke the major support which was around 6830 level. Below this level may see more down fall.
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