Markets Trade Weak, Selling Across The Board

The Indian markets continue to edge lower in today’s afternoon trading session over the selling across sectors. At 12:30 PM, Nifty is trading down by 24 points at 5872 and Sensex is trading at 19,434.5, down by 62 points. Both the indices are trading down in the range of 0.32% to 0.47%.

The advance-decline ratio is on a negative side in the afternoon trading session. On the NSE, 982 shares are trading in red and 390 shares are trading in green. 

Top 5 NSE Gainers: NTPC is the top gainer on NSE, trading up by 1.14%, followed by Tata Power, Sesa Goa, Sun Pharma and HDFC Bank.

Top 5 NSE Losers: DLF is trading down by 2.86% and is among the top losers on the NSE, followed by Bharat Petroleum, Cairn India, Dr Reddy’s Labs and HCL Technologies. 

Among the sectoral indices, all the sectors are trading in red. Metal, Oil & Gas and Realty are facing a selling pressure and are down by 1% or more.

Meanwhile, the Asian markets are trading on a subdued note with investors turning cautious as a weak euro zone growth data signifies the G20 meeting in this session and on Saturday in Moscow. Hong Kong’s Hang Seng is trading marginally up by 6 points and Japan’s Nikkei 225 has slipped down by 133 points, followed by Strait Times, which is down by 12 points. 

Buzzers: Kalindee Rail Nirman opened at Rs 82.10 and registered a low of Rs 80.20, now trading at the day’s high at Rs 87 up by 4.5% over heavy volumes. The Railway stocks are in the buzz ahead of the Railway budget. In the last couple of weeks the stock has underperformed the market. 

LIC Housing Finance is trading lower by 2.18% at Rs 246, extending its 6% fall on Thursday after reporting a disappointing set of numbers for Q3FY13. 

Nifty is trading in a narrow range after a gap down opening, going forward, if Nifty breaks the 5860 level, we could slip to 5830.