Markets Flattish, Nifty Holds 8000 Mark
DSIJ Intelligence / 09 Jun 2015
Since the last few days, the Indian markets have witnessed selling pressure. On back of weak global cues as well as domestic cues. In the current scenario the sectoral indices seem some directionless trades. As a result, the Nifty opened on a flat note at 8030, lower by 13 points. The Sensex was down by 12 points at 26512. Both indices opened lower in the range of 0.8-0.14 per cent.
Since the last few days, the Indian markets have witnessed selling pressure. On back of weak global cues as well as domestic cues. In the current scenario the sectoral indices seem some directionless trades. As a result, the Nifty opened on a flat note at 8030, lower by 13 points. The Sensex was down by 12 points at 26512. Both indices opened lower in the range of 0.8-0.14 per cent.
The advance-decline ratio was skewed towards the positive in the morning session. On the NSE, 815 shares were trading with gains while 729 shares were down.
Top Nifty Gainers: Hindaco is the top gainer so far today and it has appreciated by 1.78%. It is followed by Axis Bank, Yes Bank, HDFC and Vedanta.
Top Nifty Losers: Cairn India is top loser for the morning session. It is trading down by 4.6%. It is followed by Bosch, Idea Cellular, Bharti Airtel and Tata Steel.
On the sectoral front, 9 out of the 13 sectors are trading in the red. Healthcare and Auto have been the top loser as it has corrected more than 100 points. It is followed by Capital Goods and Mid-caps, which are trading lower by 87 points and 73 points respectively. IT, Oil & Gas and small-caps are also negative in the range of 20-35 points each. However, Bankex and Metals are witnessing some buying and are trading up by 61 points and 35 points respectively.
On the global front, Asian shares are trading on a negative sentiment. Hang Seng is the top loser and is trading lower by 278 points. Followed by the Nikkei is trading lower by 167 points. The Shanghai Composite and KOSPI, both the index is trading in negative territory.
Buzzers: Cairn India slips 5% and hit 52-week low after the announcement of the merger with Vedanta. On the back of this, the stock has been trading below its major support of Rs 175 per share. Going ahead, the stock may touch Rs 169 per share if it sustains below the mentioned level.
Nifty future has been consolidating in the range of 8030-8050. If it manages to cross 8080, we may see some recovery. At the lower end 8000 level will be the strong technical support.
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