Markets See Negative Opening

The Indian markets have opened trades on a negative note today. The Nifty have opened with a negative bias of 50 points at 5801 and Sensex is 140 points down at 19,220. Both indices have opened lower in the range of 0.75%-0.65%.

The advance-decline ratio is on the negative side in the morning trading session. On the NSE, 343 shares are in the green and 943 shares are in losses.

Top 5 NSE Gainers: Maruti Suzuki is the top gainer, up by 0.69%. HUL, Asian Paints, Hero MotoCorp and Coal India are the others in the gainers list.

Top 5 NSE Losers: Axis Bank is the top loser, trading down by 3.07 %, followed by HDFC Bank, Bharti Airtel, Bajaj Auto and Tata Motors.

All the sectoral indices are in the red at the moment. Banks are down by 148 points, Auto has lost 104 points, Consumer Durables is down by 72 points and Metal is down 57 points. Oil & Gas is also lower by 30 points, and FMCG is down by 17 points. 

In the Asian markets, Hang Seng is lower by 161 points and Taiwan Weighted is down by 26 points. On the other hand, Shanghai is up by 3 points and Nikkei is higher by 97 points.

Buzzers: Axis Bank is currently trading down by 2.09% at Rs 1326. The stock has been losing strength and seeing a fall from yesterday’s trading session. It has good support at Rs 1310, after we will see further moves.

Tata Motors has seen some good momentum in the last few trading days. However, the stock opened on a negative note, down by 1.7% and is trading at Rs 297. It has a good support at Rs 295 and we can see it dropping further from this level.

The 5800-5780 levels will be a laxman rekha for the Nifty. The major support will be 5780. If it breaks and closes above this level, we may see a further down-move.