Indices Choppy, Nifty Hovering Around 7800

The Indian markets saw some range bound trade in the today’s afternoon session. The Banking stocks witnessed profit booking on the higher side, while FMCG, Healthcare and Metals were sustain on positive note. The Nifty is trading around the crucial support level of 7800. It is currently down by 5 points to trade at 7801 and the Sensex is down by 5 points and is trading at 25760. Both the indices were seen trading lower by 0.02 percent.

On the NSE, the advance-decline ratio is positive with 1222 advances and 1196 declines.

Top Nifty Gainers: Hindalco is leading the gainer lists so far and is up by 3.6%. It is followed by ITC, HCL tech, Ambuja Cement and GAIL.

Top Nifty Losers: BPCL is leading the losers list so far and is down by 2.63%. It is followed by Infosys, Grasim, Dr Reddy’s Lab and Bank Of Baroda.

Most of the sectoral indices are trading on a negative note. The Bankex , Consumer Durable and IT index is the top loser, trading lower by 90 points each. It is followed by Oil & Gas, Capital Goods and Consumer Durable indices, which are trading in negative note. However, Metals, Healthcare and FMCG were sustain in green territory up around 100 points each.

The Asian market continued to trade in same as morning session. Nikkei is up by 236 points while Hang Seng is up 331 points. The Straits Times and KOSPI too were trading with positive note.

Buzzer:  Hindlaco surged by 4% as the scrip got hammered from last couple of days. It showed some strength on current level which is Rs 82.30. If it manages to close above Rs 84 level may see more upside.

Today, the Nifty Futures trading in a narrow range. It took good support at 7800 level and the major hurdle stands at 7850 level for further trading session.