Markets Trading Flat

The Indian markets have opened flat with a negative bias this morning and have moved on expected lines as global cues dried up. In the morning trading session at 10:00 AM, Nifty is trading with a marginal loss of 7 points at 5890 and Sensex is trading at 19,479, down by 28 points. Both the indices are trading up in the range of 0.14% to 0.15%.

The advance-decline ratio is on a positive side in the morning trading session. On NSE, 734 shares are trading in green and 429 shares are trading in red. 

Top 5 NSE Gainers: CIPLA is the top gainer on NSE trading up by 1.69%, followed by ACC, Ranbaxy, Hindustan Unilever and Kotak Mahindra Bank.

Top 5 NSE Losers: Bharti Airtel is trading down by 1.75% and is among the top losers on NSE, followed by GAIL, Jaiprakash Associates, Reliance Infrastructure and Bharat Petroleum.

Among the sectoral indices on the NSE, 9 out of 13 sectors are trading firm in the morning trade. Healthcare and FMCG has shown a good momentum and is trading higher in the range of 0.30%-0.70%. On the flipside, Oil & Gas and Metal are under a selling pressure. 

Asian markets are trading mixed. Nikkei 225 is trading up by 2.23% at 11,428 followed by Taiwan Weighted and Shanghai Composite. Hang Seng and Strait Times are marginally down. 

Buzzers: Hotel Leela has surged up by 9% and is trading at Rs 26.85 over the news that the company has executed an agreement for sale of land with Reliance Industries for a consideration of Rs 170 crore.  

Kingfisher Airlines was locked at an upper circuit at Rs 10.53 in the opening deals as UB Holdings seeks to revamp support to the beleaguered Airlines.

Nifty is trading flat with a stock-specific action, for intraday. We believe that Nifty will be in the range of 5880 on a lower side and a higher side of 5920. A break below or above the range will add momentum to the trend.