Markets Witness a Sluggish Opening

The Indian markets opened on a negative note as the Asian markets are trading in a narrow range in the morning trade. The Nifty opened with a negative bias of 9 points at 5806 and Sensex is trading 25 points lower at 19,220. Both the indices opened down in the range of 0.21%-0.14%.

The advance-decline ratio is on the same side for both the indices in the morning trading session. On the NSE, 621 shares are trading in green and 630 shares are trading in red. 

Top 5 NSE Gainers: Hero MotoCorp is the top gainer on NSE, trading up by 2.79%, followed by Wipro, L&T, Sun Pharma, and DLF.

Top 5 NSE Losers: Jindal Steel is the top loser trading down by 1.6%, followed by Tata Motors, Hindalco, Kotak Mahindra, and JP Associates.

On the sectoral indices front, 5 out of 13 sectors are trading in red. Metals is down by 94 points, Oil&Gas is down by 74 points, Banks is down by 48 points and FMCG is down by 16 points.

On the global front, the Asian shares are trading in a positive mood. Hang Seng is positive by 22 points, Taiwan Weighted is up by 10 points and Shanghai Composite is up by 1 point while Nikkei 225 is up by 77 points.

Buzzers: Wipro is trading up by 1.9% at Rs 450. The stock is gaining good volumes and holds a positive sentiment from yesterday’s closing session .Having a big hurdle on 460, after that we will see further moves.

Hero MotoCorp saw a good momentum in the last few trading days. The stock opened on a positive note by 2.9% and is trading at 1694. It broke the first hurdle at 1680. We can now see a good move for the next trading days. 

The levels of 5800-5770 will be the Laxman Rekha for Nifty. Its final support is on 5770. If it breaks this record and closes below this level, we may see a further downfall after this level.