Mid-Day market watch on May 06, 2016

The Indian markets have been consistently trading in negative territory since the morning session. There is no short covering taking place in the current scenario. The Asian markets area also trading in red territory. The Nifty has lost 32 points to trade at 7703 and Sensex is down 114 points at 25147. The indices are trading lower between 0.41-0.45 per cent.

The advance-decline ratio is on the negative side. On the NSE, 1010 shares are in the green; and 1223 shares are in red.

Top 5 Nifty Gainers: GAIL is leading the gainers' list so far, up by 2.6%. Eicher Motors, Bank Of Baroda, SBI and Asian Paints are also trading higher.

Top 5 Nifty Losers: Dr Reddy's Labs is down by 2.0%, followed by Adani Ports, UltraTech Cement, Wipro and Power Grid Corp.

Majority of the sectoral indices have moved into the red zone. IT was the top loser, down by 109 points, Healthcare was down 116 points and Capital Goods have dipped 71 points. Mid-Caps and Small-Caps are trading in the mix, up by 25 points and down 79 points respectively.

In the Asian markets, Hang Seng is the top loser, down by 357 points. The Nikkei is down by 40 points. Straits Times and Taiwan are trading on a negative note.

The Nifty futures have fallen below the 7750 level. Going ahead immediate supports will be around 7680/7650 mark.

THE FIVE BUZZERS

Hours since the markets opened today, after a careful observation of stocks' movements and analysis, we find these below mentioned stocks worth watching during rest half of the day.

A) J Kumar Infraprojects: Company has received an order worth Rs 195.14 crore from Municipal Corporation of Greater Mumbai (MCGM). The stock has surged by 5.9 per cent.

B) Diamond Power Infrastructure: Company has hit the upper circuit today, where management has fixed its board meeting date as May 16, 2016 to consider various investment and debt re-alignment options.

C) ABG Shipyard: Company was been hit badly and tumbled nearly 18 per cent, at its 52 week and lifetime low after ECL Finance sold more than one million shares in open market.

D) IDFC: IDFC has surged 14 per cent on account of the guidelines published by RBI for on-tap banking licenses. The news may help the company to put an end to the need for a banking structure sometime in future.

E) Geometric, Siemens and Titan: Geometric, Siemens and Titan have quarterly earnings results due for declaration today, major stocks to be watched out for.