Trades Continue In The Red

The Indian markets continued to trade in the red, with selling force witnessed in Auto and Realty stocks. The Nifty is trading down by 28 points at 6025 and Sensex is lower by 86 points at 19,941. Both indices are down in the range of 0.43%-0.48%.

The advance-decline ratio is extremely negative in the afternoon trade. On the NSE, 1159 shares are trading in the red and 244 shares are positive.

Top 5 NSE Gainers: ONGC is leading performer, trading with gains of 2.18%, followed by Tata Consultancy, ITC, Hindustan Unilever and Wipro.

Top 5 NSE Losers: Tata Motors is trading lower by 7.09% so far. Jaiprakash Associates, IDFC, Ranbaxy and GAIL are also in losses.

Most of the sectors are trading in the negatives. FMGC, IT and TECk are in the range of 0.05%-0.87% at this hour of trade. Auto and Realty are the strongest losers, down in the range of 2.20%-2.83%.

The Asian markets continue to see mixed trades. Nikkei 225 and Straits Times are up by 0.55%-1.26%. The KOSPI index is trading down by 0.81%, followed by Shanghai Composite, Taiwan Weighted and Hang Seng, all down in the range of 0.17%-0.81%.

Buzzers: Airlines stocks have toppled down by more than 1% in today’s trades after the Supreme Court ruled that air travelers should not pay transaction fees and that the aviation regulator should review the wide variation in air fares by airlines. Jet Airways is trading down by 1.41% at Rs 590, SpiceJet is down 3.1% and KFA has lost 1.44%.

Agro Tech Foods has gained 1.44% and is trading at Rs 517. The company is engaged in the business of marketing food and food ingredients to consumers and institutional customers. Agro Tech has posted good number for Q3FY13.

Nifty is trading volatile in the afternoon trading session. It has strong intraday support at 6005.