Markets In Grip Of Bears Over Panic Selling
Suparna / 14 Feb 2013
The Indian markets continued to trade volatile in the afternoon trading session. The benchmark indices fell down post the announcement of the January inflation numbers which came in at 6.62%. Nifty is trading down at 5917 and Sensex istrading at 19582.61. Both the indices are trading down in the range of 0.13% to 0.28%.
The Indian markets continued to trade volatile in the afternoon trading session. The benchmark indices fell down post the announcement of the January inflation numbers which came in at 6.62%. At 12:15 PM, Nifty is trading down by 16 points at 5917 and Sensex is trading at 19582.61 down by 25 points. Both the indices are trading down in the range of 0.13% to 0.28%.
The advance-decline ratio is on the negative side in the afternoon trading session. On the NSE, 1020 shares are trading in red and 324 shares are trading in green.
Top 5 NSE Gainers: Hindustan Unilever is the top gainer on the NSE, trading up by 1.60%, followed by Coal India, Gail India, Tata Consultancy Services and ONGC.
Top 5 NSE Losers: Power Grid Corporation is trading down by 4.19% and is among the top losers on NSE, followed by Bharti Airtel, Siemens, Wipro and Maruti Suzuki India.
Among the sectoral indices, most of the sectors are trading in red. Metal, IT and FMCG are trading firm up in the range of 0.41-0.50%. Consumer Goods, Auto and Consumer Durables are down by 1%.
Buzzers: Orchid Chemical and Pharmaceuticals is trading lower by 4.4% at Rs 73.65 after reporting a seven-fold YoY jump in its net loss at Rs 72.36 crore in the October-December quarter due to lower operational income and higher interest costs. The company had suffered a loss of Rs 10.12 crore in the similar quarter last year.
The State Bank of India drops more than 2%, now trading at Rs 2194. The company has reported its Q3FY13 numbers which are below the street estimates.
Nifty is trading below its support of 5920, it could slip back to levels of 5880.
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