A Sluggish Opening To Markets

The Indian markets have opened higher on Friday after closing in the red for five consecutive trading sessions, over strong global cues. In the morning trading session, Nifty is trading up by 10 points at 5947 and Sensex is trading up by 35 points at 19,615. Both the indices are trading up in the range of 0.01% to 0.01%.

The advance-decline ratio is in a negative zone in the morning trading session. On the NSE, 527 shares are trading in green and 738 shares are trading in red. 

Top 5 NSE Gainers: Tata Motors is the top gainer on NSE, trading up by 1.18%, followed by Jindal Steel, Wipro, Mahindra & Mahindra and Power Grid. 

Top 5 NSE Losers: Ambuja Cement is the top loser trading down by 3.23%, followed by ACC, NTPC, ITC and Dr Reddy’s Labs.

All the sectors are trading in green. Auto, Capital Goods, and Consumer Durables are trading firm up.

On the global front, the Asian shares are trading up. Nikkei is trading down by 123 points, more than 1%. Hang Seng, Taiwan Weighted, and Shanghai Composite are trading with a positive bias. 

Buzzers: Mahindra & Mahindra is trading up by 0.86% at Rs 904. The markets are expecting good results from the company today.

Sun Pharma is trading up by 7% at Rs 756. The Pharma sector has performed well in the third quarter of FY13. Sun Pharma is, therefore, expected to do well in its Q3FY13 results, to be announced today.  

The levels of 5930-5940 will be the laxman rekha for Nifty. Its final support is on 5880 on the closing basis. We may see a further downfall after this level.