Nifty Loses Morning Gains

The Nifty has seen negative trades in the afternoon session and is trading lower by 40 points at 5865. The Sensex is lower by 170 points at 19,400. Both the indices are trading down by 0.77%-0.63%.

The advance-decline ratio, which indicates the health of the markets, is negative. On the NSE, 490 shares are in positives and 902 shares are down.

Top 5 NSE Gainers: Siemens is holding its morning gains, trading up by 6% at Rs 573. Asian Paints, Ranbaxy Labs, IDFC and BPCL are also in the positives.

Top 5 NSE Losers: ICICI Bank is among the top losers so far, lower by 4%, followed by DLF, Tata Motors, JP Associates and Reliance Infra.

10 out of the 13 sectors are in the red at this hour. Banks and Metal are lower between 1.88%-0.83%. Auto and Capital Goods have lost some profits in the afternoon trading session, trading down by 0.85 %-0.43%.

In the Asian markets, the Hang Sang is in the negatives, down by 107 points and Taiwan is lower by 24 points. On the other hand, Shanghai has gained 6 points and Nikkei is higher by 179 points.

Buzzers: ICICI Bank has dropped 3.8 % and is trading at Rs 1067 after seeing a low at Rs 1056. The stock has major support at the Rs 1050 level. If it closes below this, it may go to Rs 1020-1000.

DLF is trading lower by 3.6 % at Rs 274 The stock opened at Rs 285 and registered a low of Rs 272.50. It trading below its support level of Rs 278 and if it closes at this level, the stock may move further down to Rs 275.

Going ahead, the 5880-5860 levels will be eyed by traders. Below these levels, the Nifty may take some more of a down-move.