Sensex in the red; Bharti Airtel, RIL down

Indian stock markets continue to trade in the negative; after having trimmed their morning losses. Sensex is currently trading at 16095, down 71.5 points and Nifty at 4,832.15, down 19.15 points.

Other Asian indices are still trading in the green with Nikkei up 2.30 per cent while the Hang Seng and Shanghai indices up by 1.42 and 1.23 per cent respectively.

Meanwhile European markets have opened in the red. CAC and DAX are down by 0.74 and 0.53 points respectively. FTSE is trading down by 18 points.

Amongst the sectoral indices, Healthcare, Metal, Auto, FMCG and Capital goods, are trading in the green. Power index has made up its morning losses after the statement from the power ministry to increase coal and gas supply to the power sector.

Oil and Gas has taken the maximum hit, down by more than 94 points or 1.15 per cent. BSE 100, 200 and 500 indices are still in the red while Midcap, Small cap and BSE IPO index are now trading in the green.

Among the Sensex companies, Tata Steel is the major gainer at 2 per cent. Auto stocks such as Mahindra and Mahindra, Hero MotorCorp, Bajaj Auto and Maruti Suzuki are all trading in the green. Hindustan Unilever, BHEL, Jaiprakash Associates, Cipla, HDFC Bank, TCS and Coal India are also seen trading in the green.

Bharti Airtel has dropped 12 points and is amongst the losers today. RIL is also down 1.79 per cent.

Mphasis is up by over 5.63 per cent. Havells India, Zee entertainment, Indiabulls financial are also seen gaining some momentum.

Suzlon Energy has announced that it will build a land bank of 50000 acres in 8 states. The shares of Suzlon Energy are currently trading up 1.94 per cent from yesterday’s closing price.

The market breadth, indicating the overall health of the market, is still mixed. Out of total 2929 stocks 1439 stocks advanced while 1360 stocks declined. A total 130 stocks remained unchanged

We expect volatility to remain in the markets for the day, on the back of a lower opening in European indices.