After Bears Enjoy A Lower Hand, Nifty Opens Flat
Suparna / 01 Mar 2013
The Indian markets ended on a negative note after the Budget declaration yesterday. The markets are now trading in a narrow range. Nifty opened with a positive bias at 5700 and Sensex opened at 18,890. Both the indices opened up in the range of 0.08%-0.12%.
The Indian markets ended on a negative note after the Budget declaration yesterday. The markets are now trading in a narrow range. Nifty opened with a positive bias of 7 points at 5700 and Sensex opened 30 points higher at 18,890. Both the indices opened up in the range of 0.08%-0.12%.
The advance-decline ratio is in a positive zone in the morning trading session. On the NSE, 686 shares are trading in green and 610 shares are trading in red.
Top 5 NSE Gainers: Power Grid Corporation of India is the top gainer on NSE, trading up by 3.08%, followed by BPCL, JP Associates, Jindal Steel, and Reliance Infra.
Top 5 NSE Losers: DLF is the top loser trading down by 3.3%, followed by Hero MotoCorp, Lupin, Cairn India, and Dr Reddy’s Labs.
All the sectors are trading in green except Oil and Gas.
On the global front, the Asian shares are trading in a positive mood. Hang Seng is, however, negative by 68 points. Taiwan Weighted is up by 56 points and Shanghai Composite is down by 12 points with Nikkei 225 up by 71 points.
Buzzers: Suzlon Energy is trading up by 17.5% at Rs 18.80. The stock is gaining good volumes after the stiff fall yesterday. After crossing the big hurdle at Rs 20.5, we will see further moves.
Jaiprakash Associates saw a good momentum in the last few trading days. The stock opened on a negative note on 2.7 % and trading at 70. The stock came under pressure and is trading on a major support.
The levels 5755-5780 will be good hurdles for Nifty. Its final support is at 5690. If it breaks this level, we may see a further downfall.
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