Sensex, Nifty Witness Profit Booking Trade
Suparna / 11 Jun 2014
After a positive morning session the Indian markets saw a profit booking trade in the mid session. At this point of hour the Nifty is trading negative by 57 points at 6598 and the Sensex is lower by 175 points to trade at 25405. Metals, Auto and Capital Goods sectors are the culprits of the today’s trading session and are down more than 1.5%.
After witnessing a positive opening in the morning trade, the indices saw profit booking in mid-session as well. Most of the indices turned negative in the current scenario. The Nifty is trading down by 62 points at 7593 and Sensex is trading 195 points lower at 25388. The indices have moved down in the range of .80%-.85%.
The advance-decline ratio is on the positive side at this hour. On the NSE, 1817 shares are in the green and 1776 shares are in red.
Top 5 Nifty Gainers: Infosys is leading the gainers list, up by 3.25%. The other stocks trading higher include Kotak Mahindra, TCS, Asian Paints and Tech Mahindra.
Top 5 Nifty Losers: DLF is down by 5.1% so far, followed by NMDC, Tata Power, Sesa Sterlite and Hindalco.
Most of the sectoral indices saw negative trade in mid-session. Metals is the real culprit of the day down by more than 450 points. Auto, Capital Goods and Consumer Durables indices were down more than 200 points each. Mid-Caps and Small-Caps also were also trading in negative territory. However, IT is trading in the positive zone.
The Asian markets remained mixed in mid-session as well. Nikkei witnessed flattish trade with nominal positive move by 74 points, whereas KOSPI and Shanghai Composite market is in positive territory, while Hang Seng is trading in green zone down by 58 points.
Buzzer: Infosys has gain around 3.41 % on the bourses and made an intraday high of Rs 3257. The stock is trading around its major resistance level of Rs 3200. If it closes above this level, it may move more upside around to Rs 3240/3260 in the next 3-4 trading sessions.
Nifty Futures has major support levels of 7600/7570. If it sustain above this level may see more upside around 7800 level.
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