Markets Wipe Out Morning Gains, Trade Negative
Suparna / 01 Feb 2013
The Indian markets, after a healthy start, are now trading in a negative zone in the afternoon session. Nifty is trading in red at 6028 down by 6 points and Sensex is trading at 19,881 down by 13 points.
The advance-decline ratio is strong at this point of time. On NSE, 743 shares are trading in green and 625 shares are trading in red.
Top 5 NSE Gainers: Maruti Suzuki is the top gainer on NSE, trading up by 2.33% followed by Lupin, Baja Auto, Bharat Petroleum and Cipla.
Top 5 NSE Losers: Jaiprakash Associates slides further and is now trading down by 4.54% to be the top loser on NSE, followed by DLF, BHEL, Bharti Airtel and Hindustan Unilever.
Most of the sectors are trending down. Consumer Durables and Health Care are trading higher in the range of 0.87%-1.98%. Sectors which are dragging the markets down are Realty and TECk.
Most of the Asian markets are trading firm. China’s Shanghai Composite trading higher by 1.34 followed by Japan’s Nikkei 225 and Straits Times. Hong Kong’s Hang Seng is trading down by 0.26% and KOSPI is trading lower by 0.21%.
Buzzers: Pidilite Industries is trading up by 4.19% at Rs 242.30. The stock touched a new 52- week high on account of heavy volumes. It is outperforming the market and posted gains of more than 10% in a week or so.
BHEL has dipped almost by 4% to Rs 218.7, after reporting a 18% YoY drop in net profit at Rs 1,182 for Q3, on account of lower operational income.
Nifty is trending down, but volumes are on the lower side. If it manages to break its important support of 5990, we could see an aggressive sell-off.
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