Bulls At Rest, Bears In Action
Suparna / 04 Jan 2013
The Indian indices, which saw a mildly positive opening, are trending down in the afternoon session. The Nifty is trading down at 5983, and Sensex is also lower at 19686.65.
After a great run up for past three trading sessions, the bulls are catching their breath. The Indian indices, which saw a mildly positive opening, are now trending down. The Nifty is trading down by 26 points near its intraday low at 5983, and Sensex is down by 78 points at 19686.65. Both indices are trading lower by 0.40%-0.43%.
The market breadth has turned negative for the first time in the past 5 trading sessions. The advance-decline ratio is negative. On the NSE, 795 shares have declined and 622 shares have advanced. This indicates that traders and investors are booking profits.
Top 5 NSE Gainers: ONGC is prospering in today’s trade and is trading up by 2.29% on the NSE. This is followed by Bharat Petroleum, HCL Technologies, Wipro and GAIL.
Top 5 NSE Losers: Wipro is among the top losers on the NSE, trading lower by 0.93%. Others trading down include Coal India, Tata Consultancy Services, Hindustan Unilever and ITC.
As of now, 4 of 13 the sectoral indices are in the green. PSU, IT and Oil & Gas are up in the range of 0.45%-0.70%. Metals are under some intense selling pressure, trading down by 1.59%. Other sectors which are contributing to the downfall are Realty, FMGC and Bankex.
The cues from the Asian indices are mixed. The Nikkei 225 is higher by 2.74%, whereas Shanghai Composite is trading flat with a positive bias. Hang Seng, though, is trading down by 0.48%.
Buzzers: Gujarat Fluorochemicals registered an intraday high of Rs 345.60 and a low of Rs 333.15. The stock is currently trading up by 2%. Its 5-days’ average volumes stand at 97480 and today volumes so far are at 519728, marking a sharp jump of 433%.
Ind-Swift Labs is trading up by 13% at Rs 58.40. The stock has seen a sharp jump in prices as well as volumes. It has surged on news that the company’s proposal of debt restructuring has been approved by the Corporate Debt Restructuring (CDR) Empowered Group.
Going ahead, the Nifty should hold on to the levels of 5970 and 5950. Resistance stands at 6015, and a close above this level may help the index achieve levels of 6050.
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