Indices Bounce Back After Gap Down Opening
Suparna / 07 Feb 2013
The Indian markets opened gap down today on the back of weak global cues. Later, the Nifty bounced back to above 5950.
The Indian markets opened gap down today on the back of weak global cues. The Nifty is trading marginally down by 5 points at 5955 and Sensex is 16 points lower at 19,621. Both indices are trading down in the range of 0.08%-0.09%.
The advance-decline ratio is marginally on the positive side in the morning trading session. On the NSE, 608 shares are trading in positives and 590 shares are in the red.
Top 5 NSE Gainers: Jaiprakash Associates is the top gainer on the NSE, up by 1.37%. Others in the gainers list include IDFC, Tata Motors, Power Grid and Ranbaxy Labs.
Top 5 NSE Losers: Cipla is among the top losers, followed by Hero MotoCorp, UltraTech Cement, GAIL and NTPC.
3 out of the 13 sectors are trading firm this morning. IT, TECk and Oil & Gas are higher in the range of 0.06%-0.67%. Consumer Durables and Metal are trading in red as top gainer amongst the sector.
Asian Markets are currently trading lower. Shanghai Composite has dipped by 1.33%, followed by Nikkei 225, Straits Times and Hang Seng.
Buzzers: Cipla is trading lower by 2.11% at Rs 399. The stock opened gap down and registered a low of Rs 393.75. It has dipped after the company reported lower-than-expected Q3 numbers.
Ambuja Cements is trading down by 0.92% at Rs 204.20. The company is going to declare its Q3 numbers. The stock has seen good action in last couple of trading session and has outperformed the market.
After opening lower, the Nifty bounced back to above 5950. Going ahead, the 5990 level will act as a resistance.
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