Trades Negative, Infra Companies Gain

The Indian markets continue to trade in the negative zone. Currently, the Nifty is trading down by 9 points at 5899 and the Sensex has dropped 30 points and is at 19,416. Both the indices are trading lower by 0.15%.

The market breadth continues to remain positive. On the NSE, 792 shares have advanced and 590 shares have declined.

In another set of key numbers awaited, India’s Current Account Data for Jul-Sept 2012, which is due to come in after market hours today, is expected to show a record high deficit, leading to a negative balance of payments.

Top 5 NSE Gainers: Punjab National Bank is amongst the top gainers on the NSE so far today, trading up by 3.57%. It is followed by DLF, Jindal Steel And Power, Wipro and Bank of Baroda.

Top 5 NSE Losers: ITC continues to remain under pressure and is among the top losers on the NSE in the afternoon trades, down 0.92%. HDFC, Tata Consultancy, HCL Technologies and Sun Pharma are the other significant losers.

7 of the 13 sectoral indices are trading higher. Realty continues to prosper and is trading up by 1.45%, followed by CD and PSU. FMGC and CG are among the worst performing sectors at this point, down in the range of 0.15%-0.40%.

Most of the Asian markets are closed on account of the year-end holidays. Shanghai Composite has gained 1.58%, Straits Times is trading down by 0.78% and Hang Seng is lower by 0.04%.

Buzzers: Ramky Infra is trading at an intraday high of Rs 101, up by 4%. The stock has gained on news of achievement of financial tie-up for the Agra-Etawah road project.

GMR Infra is trading up by 3% at Rs 19.35. The stock made a high of Rs 19.80 and a low of Rs 18.55. It has seen a spurt in volumes. Friday’s volumes stood at 60, 41,607, whereas those at this hour of trade today stand at 64, 14,589.

Support for the Nifty will be at 5875 and 5852 and resistance will be at 5931 and 5955.