Markets See Gap Down Opening, Tata Motors Slides
Suparna / 13 Mar 2013
The Indian markets have started the day’s trades on a lower note. The Nifty is currently trading below the 5900 mark at 5883 and Sensex is at 19,467. Tata Motors has slipped after its JLR unit reported subdued growth in sales for February.
The Indian markets have started the day’s trades on a lower note tracking weak global cues. The Nifty is currently trading below the 5900 mark at 5883 and Sensex has dipped 93 points to trade at 19,467. Both the indices are trading down in the range of 0.47%-0.48%.
The advance-decline is on the negative side in the morning trading session. On the NSE, 405 shares are trading in the green and 762 shares are in negatives.
Top 5 NSE Gainers: Sun Pharma is the top gainer on the NSE, trading up by 1.11%, followed by Bharti Airtel, Wipro, HCL Technologies and ITC.
Top 5 NSE Losers: Hindalco Industries is lower by 2.06%. Infosys, Tata Motors, ICICI Bank and GAIL are also trading down.
Most of the sectoral indices are trading in the red. Consumer Durables, Auto and Bankex are lower between 0.70%-1.32. FMGC and Realty are in the positive zone, up by 0.07-0.51%.
Most of the Asian markets are also trading down. China’s Shanghai Composite is lower by 1.17% followed by Hang Seng, Straits Times and Nikkei 225. KOSPI and Taiwan Weighted are trading flat with a positive bias.
Buzzers: Tata Motors has slipped over 1% so far in trades today after its Jaguar Land Rover unit reported subdued growth in sales for February 2013. The stock opened at Rs 306 and is now trading at Rs 299.
Voltas, though, has gained more than 2% in a subdued market. It opened around the Rs 83.50 levels and registered a high of Rs 85.90. The stock has seen a rise in price along with higher volumes.
After a gap down opening, the market is trying to form a base and consolidate. Intraday support for the Nifty would come in at 5860.
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