Indices Remain Bearish, Tata Steel Down By 4.20%
Suparna / 29 Apr 2014
Indices continue to remain bearish in the mid session as well. Metal and Bankex stocks are still struggling to make an upward move, owing to a heavy sell-off from the morning session. At the present hour the Sensex is down by 122 points at 22509 and Nifty is negative by 28 points at 6732 level.
The Indian markets witnessed heavy sell-off in the morning-session today. On the current scenario the Nifty is down by 28 points to trade at 6732 and the Sensex dropped by 122 points to 22509.
On the NSE, the advance-decline ratio is still on the negative side with 1666 advances and 1790 declines.
Top Nifty Gainers: UltraTech Cement is leading the gainer lists so far and is up by 2.55%. It is followed by Grasim, Ambuja Cements, Tech Mahindra and DLF.
Top Nifty Losers: Tata Steel is leading the losers list so far and is down by 4.20%. It is followed by Jindal Steel, HUL, Hindalco and Bajaj Auto.
Most of the sectoral indices are trading in red in the mid-session. Metal is the top loser, trading lower by180 points. It was followed by Bankex and Auto indices, which were down by 141 points and 106 points respectively. Mid-caps and small-caps showed some strength and are trading with nominal gains.
The Asian market continued to trade negative. The Nikkei is down by 141 points. The Straits Times and KOSPI were trading with nominal loss. However, Hang Seng is trading up by 321 points.
Buzzer: Metal Stocks, Tata Steel (down 4.20%), Jindal Steel & Power (down 4.18%), Bhushan Steel (down 1.17%), Sail (down 3.35%), JSW Steel (down 4.43%) and Sesa Sterlite (down 0.46%).
Nifty Futures trade around 6762 level. If it sustained at current level we may see some upward movement.
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