Indices recover from yesterday's blood bath
DSIJ Intelligence / 08 Jan 2016
After a heavy sell-off since the last few days, the Indian markets witnessed some recovery from the morning session. Today indices have recouped these heavy losses, however they are still trading choppy. At the moment, the Sensex is trading higher by 140 points at 25000 and the Nifty is up by 48 points at 7617. The indices are seen trading higher by 0.5% each
After a heavy sell-off since the last few days, the Indian markets witnessed some recovery from the morning session. Today indices have recouped these heavy losses, however they are still trading choppy. At the moment, the Sensex is trading higher by 140 points at 25000 and the Nifty is up by 48 points at 7617. The indices are seen trading higher by 0.5% each.
On the NSE, the advance-decline ratio is still on the negative side with 1820 advances and 708 declines.
Top Nifty Gainers: Tech Mahindra is leading the gainer lists so far and is up by 5%. It is followed by Tata Motors, Yes Bank, Power Grid and Tata Steel.
Top Nifty Losers: Coal India is leading the losers list so far and is down by 2.06%. It is followed by Cipla, Bajaj Auto, L&T and Adani Port.
Most of the sectors regained from the heavy depreciation seen this morning. 10 out of the 13 sectoral indices are trading with gains. Bankex remains the top gainer, trading higher by 133 points. It is followed by Oil & Gas, Auto and IT, which are up by 100 points each. Mid-caps and small-caps have also recovered in this scenario and are trading in positive territory.
The Asian markets are also recovering from selling pressure. The Hang Seng was up by 232 points. It was followed by the Shanghai Composite, and the Taiwan which was up by 61 points and 41 points respectively. The Straits Times and KOSPI were trading with nominal gains.
Buzzer: ONGC, BPCL and HPCL have rallied because of the falling crude prices.
Nifty Future is trading above 7600 level, If it closes above 7650 it may see more recovery.
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