Markets Under Pressure In Noon Trade, Heavyweights Lead
Suparna / 06 May 2014
Trimming the morning gains, Indian markets are still hovering in the positive zone. Reliance, ITC and ICICI Bank are leading the gainers list in the mid-trading session. At the current hour the 50 share Nifty index is trading higher by 6 points at 6705 and the 30 share Sensex is up by 40 points to trade at 22481. Asian markets remain in the red zone.
After a positive opening, Indian markets remained under pressure in the noon trade, though the indices continue to trade on the positive side in the mid-session. Currently, Nifty is up by 6 points at 6705 and Sensex has moved up by 40 points to 22481. The indices are trading in the range of 0.18%.
The advance-decline ratio is negative. On the NSE, 1647 shares are in the green and 1810 shares are in red.
Top Nifty Gainers: Reliance is leading the gainers list, up by 1.62%. ICICI Bank, IndusInd Bank, ITC and Tata Motors are the other stocks trading higher.
Top Nifty Losers: Ranbaxy Labs is down by 5.51% so far, followed by Tata Power, Bharti Airtel, Power Grid Corp and Hindalco only.
On the sectoral front, 9 out of 13 sectoral indices are on the positive side. Oil & Gas and Capital Goods indices are up by 97 and 74 points respectively. FMCG index is trading higher by 42 points. Mid-Caps are down by 10 points and Small-Caps are up by 13 points.
In the Asian markets, Hang Seng is down by 284 points. Nikkei and KOSPI are down by 27 points and 2 points respectively. However, Taiwan Index is up by 41 points.
Buzzer: WABCO India has gained around 3.87% on the bourses, making an intraday and 52 week high of Rs 2399 so far. We may see more up-move in the counter.
If Nifty Future is trading at 6733, support will be around 6730 level.
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