Dismal Start By Markets

The Indian markets have opened on a weak note following cues from the global markets. In the morning trading session at 10:00 AM, Nifty is trading down by 38 points at 5902 and Sensex is trading at 19,502, down by 160 points. Both the indices are trading up in the range of 0.81% to 0.82%.

The advance-decline ratio is extremely negative in the morning trading session. On the NSE, 889 shares are trading in red and 278 shares are trading in green. 

Top 5 NSE Gainers: HCL Technologies is the top gainer on NSE, trading up by 0.80% followed by Wipro, Grasim Industries, Cipla and Bajaj Auto. 

Top 5 NSE Losers: Jaiprakash Associates is trading down by 2.41% and is among the top losers on NSE, followed by Sesa Goa, Tata Motors, IDFC and Hindalco Industries.

Among the sectoral indices on the NSE, 12 out of the 13 sectors are trading negative in the morning trade. Metal, Consumer Goods and Realty are the top losers in the sectoral pack, down in the range of 1.03%-1.65%. Consumer Durables is the only sector trading in green up by 0.19%.

The Asian markets fell as the risk sentiment was shaken because of talks in the global markets overnight about a hedge fund had been liquidating large position in commodities as well as worries of the Federal Reserve slowing its bond buying programme. Shanghai Composite is trading down by 2.81%, followed by Hang Seng and Nikkei 225. 

Buzzers: SKS Microfinance has fell by 2.39% at Rs 143.20 as the insurance regulator IRDA imposed Rs 50 lakh penalty on the company which collected extra funds, apart from the premium, as corporate insurance agent without proper disclosure to policy holder. IRDA has asked the company to remit the penalty within 15 days from the date of receipt of the order.

Videocon Industries rallied about 9% and is trading at Rs 209. The stock has seen a good jump in volumes in the first hour of trade. It has witnessed a jump of 150% in volumes in the first hour.  

Nifty has opened gap down and now the support for Nifty will be at 5880.