Indices Continue With Profit Booking

The Indian markets saw continued with the profit booking after the negative opening. All the sectoral indices surrounded under massive amount of selling pressure. The Nifty is seeing deep dives trades, currently trading down by 64 points at 8049. The Sensex is 221 points lower at 26547. The indices are trading negative between 0.80-0.85 per cent.

The advance-decline ratio is indicating negative bias. On the NSE, 714 shares are in the green and 1748 shares are in red.

Top 5 Nifty Gainers: Tata Power is leading the gainers list so far, up by 1.13%. Coal India, Axis, M&M and Bajaj Auto are also in gains.

Top 5 Nifty Losers: PNB has dipped by 3.8%, followed by Vedanta, Cairn India, bank Of Baroda and Tata Steel.

On the sectoral front, Auto and bank index are the top loser, moving down by 191 points and 163 points respectively. Consumer Durables and health care are also lower, more than by 150 points each. Capital Goods, Metals, Oil& Gas and the broader market also trading lower by 100 points. 

The Asian peers are trading mixed note in the mid-market session. Hang Seng is the top gainer so far, up by 60 points. Taiwan and Shanghai Composite also saw good up-moves and were trading on higher. However the Nikkei Index is trading in negative territory.

Buzzer:  PNB stock dives around 5 per cent and trading below its vital support around 135. If the stock sustains below this level, it’s likely to test level of Rs 127/122 mark in the next couple of trading sessions.

As anticipated in afternoon session, the Nifty Futures made low, at 8031. Now going forward if the index breaches today’s lower level may see closing below 8000 mark.