Nifty Slips Below 5900

After starting the day on a positive note, the Indian markets have been trading in a tight range. The Nifty has dipped below the 5900 mark to touch 5897 and Sensex is trading at 19,400. The Nifty touched a high of 5930.80 and a low of 5895.65, whereas the Sensex made a high of 19,504.40 and a low of 19,396.96. Both the frontline indices are trading flat with a negative bias in the range of 0.05%-0.12%.

The market breath has turned negative at this hour. On the NSE, 789 shares have declined and 587 shares have advanced.

Top 5 NSE Gainers: The top gainer, Tata Motors, is extending its morning gains and currently trading up by 1.95%. It is followed by Dr. Reddy’s Labs, ONGC, Axis Bank Ltd and Lupin.

Top 5 NSE Losers: BHEL is among the strongest losers so far, trading lower by 1.20%. DLF, Asian Paints, Coal India and Mahindra & Mahindra are among the other counters that have seen a downward movement.

5 of the 13 sectoral indices are trading higher. Auto, HC and PSU are the preeminent performing sectors, currently up in range of 0.20%-0.53%. CD and Realty are among those taking the strongest hit at this point of trade, down in range of 0.30%-0.45%.

The cues from the Asian markets are mixed. Nikkei 225, Hang Seng and Straits Times are trading in a positive zone. The Nikkei is trading up by 0.90% at 10,323. The Shanghai Composite is the lone Asian Index in the negative zone, down by 0.60% at 2205.90.

Buzzers: The stock of Kalpataru Power is trading near its day’s high at Rs 93, up by 3%. The company made the announcement that it has secured an order worth Rs 405 crore from Power Grid Corporation (PGCIL) for the supply and installation of 800 (Kv) HVDC, 238 (KM) transmission lines.

Divi’s Labs has witnessed a spike in volumes. It has registered a high of Rs 1090 and a low of Rs 1045 in intraday trades. The counter has witnessed 10 times higher volumes as compared to the previous trading day’s volumes. The stock is now trading up by 2.75%.

The day has been sluggish till now, but more action may be expected as we are inch towards the series expiry. The resistance for the Nifty stands at 5931-5945 and support stands at 5871-5855.