Indices Hovering Around 5950, United Spirits Bubbles Up 3%

The Indian markets are extending their morning losses led by weakness seen in the Realty, Capital Goods and Metal segments. In the afternoon trading session, the Nifty is trading down by 32 points at 5955 and Sensex is up by 81 points at 19,669. Both the indices are trading down in the range of 0.38%-0.50%.

The advance-decline ratio continues to remain in the negative zone. On the NSE, 1095 shares are trading in the red and 280 shares are in positives.

Top 5 NSE Gainers: Sun Pharma is the top gainer so far, up by 3.64%. Others in the gainers list include ACC, GAIL, Ambuja Cements and DLF.

Top 5 NSE Losers: Jaiprakash Associates is down by 4.08%, followed by BHEL, Bank of Baroda, Bharat Petroleum and Tata Motors.

On the sectoral front, Consumer Durables, Realty, Capital Goods, Metal, FMGC, Oil & Gas and Bankex are in the negative zone. The Healthcare index is firmly up by 0.57%.

On the global front, the Asian markets are trending down. The Hang Seng has dropped 2.03%, and Nikkei 225, Straits Times and KOSPI are also in the red. The Shanghai Composite, though, has changed its tide and now in the positive zone.

Buzzers: United Spirits is in a win-win situation today. After reporting stellar numbers for the December 2012 quarter, the company got an approval from the SEBI for Diageo's open offer. This deal was stuck since last November following objections raised by the stock market regulator over the “put” option in the purchase agreement and the offer price quoted by Diageo. United Spirits is currently trading 3% higher.

Opto Circuits has plunged down by 5.96% to trade at Rs 69.40. The stock has hit a fresh 52-week low on the back of heavy volumes. It has seen a sell-off post the earnings announcement.

Nifty is holding on to the crucial level of 5950. On the higher side, the market is facing resistance around the levels of 5970-5975. If it sustains below 5950, the next level to watch out for is 5920.