Markets Tank, Nifty Below 5700 Mark

The Indian markets started the trading session on a lower note on the back of weak global cues. Currently, the Nifty is trading down by 42 points at 5676 and Sensex is lower by 127 points at 18,791. Both indices are trading down in the range of 0.66%-0.77%.

The advance-decline ratio is on the negative side this morning. On the NSE, 995 shares are negative and 242 shares are trading in the green.

Top 5 NSE Gainers: Bharat Petroleum is the top gainer on the NSE, up by 1.23%. Others in the gainers list include Bank of Baroda, Bharti Airtel, Dr Reddy’s Labs and Wipro.

Top 5 NSE Losers: Reliance Infrastructure is trading down by 3.17% on the NSE, followed by Ambuja Cements, Bajaj Auto, ACC and Jindal Steel and Power.

11 out of the 13 sectors are trading in the red as of now. The Metal, Consumer Goods and Power indices are trading lower between 1.67%-1.93%. Oil & Gas and TECk, though, have seen good momentum and are trading higher by 0.40%-0.47%.

Most of the Asian markets are trading in losses. Shanghai Composite has dipped by 2.94%, followed by Hang Seng, Taiwan Weighted and Straits Times. Japan’s Nikkei 225 is the only index trading in the green, up by 0.28%.

Buzzers: NHPC has tanked by almost 22% to touch Rs 20, extending the over 10% fall seen on Friday, March 1, on the back of heavy volumes. The stock opened at Rs 23.35 and has registered a low of Rs 18.15.

Minerals and Metal Trading Corp (MMTC) has slipped down 6.4% to Rs 381 on reports that the government is planning to offload its over 9% stake in the trading giant through an offer for sale (OFS).

The Nifty is trading in a crucial zone of 5670. If it breaks the level of 5670, it can slide down to 5600.