Markets Trade With A Bout Of Volatility, Oil And Gas Slump
Suparna / 27 May 2014
Continuing with the profit booking session, Indian markets are still trading on a weak note with Oil & Gas taking the biggest hit. As a result the 50 share Nifty index is trading lower by 52 points at 7311 and the BSE 30 is down by 174 points at 24540 level. All the major secotral indices are trading in the red zone.
The Indian markets are volatile and trade on a flat note in the mid-market trading session. The Nifty is trading down by 52 points at 7311, Sensex is 174 points lower at 24540. The indices are trading in a range of -0.77%-0.70%.
The advance-decline ratio is on the negative side. On the NSE, 1359 shares are in the green and 2156 shares are in red.
Top 5 Nifty Gainers: Jindal Steel is leading the gainers list so far, up by 2.73 %. Hindalco, UltraTech Cement, Infosys and Bajaj Auto are also in gains.
Top 5 Nifty Losers: BHEL is leading the losers list so far down by 7.02%, followed by GAIL, M&M, Tata Power and Coal India.
All sectoral indices are in the red. Oil & Gas was the top loser, down by 216 points. Mid-Caps and Small-Caps were down by 132 points and 95 points respectively.
Asian markets are trading on a mixed note from morning trading session. Nikkei is the top gainer so far, up by 34 points. Taiwan has also gained 19 points. The KOSPI and Hang Seng were trading flat, negative.
Buzzer: The stock of BHEL has witnessed a continuous fall from the morning session. The stock dipped by 7.02% made a low of Rs 240.50. If the stock sustains around this level, it may drop below Rs 230 in the next few trading sessions.
The Nifty has taken support around 7300. If it closes above 7316, it may recover further from the current levels.
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