Trades Slide Further Down
Suparna / 31 Jan 2013
The Indian markets are trending down after a flat start. In the afternoon trading session, the Nifty is at 6043 and Sensex is at 19,929. Punjab National Bank has gained over 6% and is now trading at Rs 888.
The Indian markets are trending down after a flat start. In the afternoon trading session, the Nifty is down by 12 points at 6043 and Sensex is trading 74 points lower at 19,929. Both indices have dipped in the range of 0.21%-0.37%.
The advance-decline ratio has turned negative at this hour. On the NSE, 743 shares are trading in the red and 609 shares are witnessing losses.
Top 5 NSE Gainers: Punjab National Bank is the top gainer on the NSE, trading up by 6.16%. Other gainers include Bank of Baroda, BHEL, Asian Paints and DLF.
Top 5 NSE Losers: Tata Power is lower by 2.47%, followed by Sesa Goa, Jindal Steel and Power, Wipro and Ranbaxy Labs.
Among the sectoral indices, PSU and Realty are trading firmly up by 0.62%-0.76%. Metals and Oil & Gas are trading in the red as of now.
The peer Asian markets are seeing mixed trades. The Nikkei 225, Taiwan Weighted and Shanghai Composite are up between 0.12%-022%, while Hang Seng and Kospi are in the negative zone.
Buzzers: Punjab National Bank, India’s second largest public sector bank, has gained more than 6% and is now trading at Rs 888. The company has beat the street's forecast and reported a net profit of Rs 1306 crore for Q3FY13, aided by lower provisions against bad loans.
Union Bank surprised the street by reporting net profit growth of 37.7% on a year-on-year basis to Rs 302.40 for Q3. The stock touched an intraday high of Rs 256.70 and a low of Rs 240.50, and is currently trading up by 5% at Rs 253.
Going ahead, the market will be volatile, with immediate support for the Nifty at 6015.
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