Markets Trading Down

The Indian equity indices saw some profit booking in the first hour of trade today. The Nifty opened at 6011.95, touched a high of 6011.95 and a low of 5982.70, and is now down by 15 points at 5994.70. The Sensex opened at 19,782.59, saw a high of 19,790.58 and a low of 19,686.43, and is currently trading down by 44 points at 19,721.35. Both the indices are trading up by 0.22%-0.25%.

The market breadth is on the negative side this morning. On the NSE, 615 shares have advanced and 618 shares have declined.

Top 5 NSE Gainers: Bharat Petroleum is the top gainer, up by 2.94%, followed by ONGC, Wipro, BHEL and Punjab National Bank.

Top 5 NSE Losers: HDFC is trading lower by 1.69%. Others in the list include DLF, Sesa Goa, Hindalco Industries and Jindal Steel and Power.

5 out of 13 sectoral indices are trading in the green as of now. IT, Oil & Gas and PSU are the top performing sectors, all higher in the range of 0.88%-1.20%.

Most of the peer Asian markets are trading in the red. Hang Seng has dropped 0.75%, KOSPI is down by 0.68% and Shanghai is down by 0.22%. The Nikkei 225 is the only Asian market in the green so far, with gains of 2.65%.

Buzzers: IOC has registered an intraday high of Rs 288.80 and a low of Rs 271.55 as yet. The stock is trading up by 5.76%. It surged up on the back of news that the oil ministry proposes to hike diesel prices by less than a rupee per month, reduce subsidies and raise the cap on cylinders.

DLF is trading down by 1.59% at Rs 235. The stock is witnessing selling pressure after the Competition Commission of India passed an order modifying several clauses in the company’s buyer agreements.

The Nifty saw some correction in the morning trading session. Going ahead, the index will consolidate for some days and will resume its upward journey. The resistance stands at 6015-6050 and support at 5975-5935.