Markets Open In Negative Zone

The Indian markets have opened on a negative note following negative trades seen in the Asian markets in the morning The Nifty open with a negative bias of 40 points at 5835 and Sensex is 140 points down at 19,280. Both the indices have opened down in the range of 0.62%-0.71%.

The advance-decline ratio is on the negative side this morning. On the NSE, 371 shares are trading in the green and 883 shares are in negatives.

Top 5 NSE Gainers: HCL Tech is the top gainer on the NSE so far, trading up by 1.42%. Lupin, Sun Pharma, Cairn and HUL are the others in the gainers list.

Top 5 NSE Losers: Coal India is trading down by 5.3%, followed by ICICI Bank, Bharti Airtel, Axis Bank and Sesa Goa, all in losses.

All the sectors are trading in the red apart from Capital Goods and Consumer Durables. The Metal index is down 195 points, Banks have dipped by 163 points, Auto is down by 80 points, while Oil & Gas has dropped 64 points. Consumer Durables, on the other hand, is up by 27 points.

On the global front, as already mentioned, the Asian shares are trading in a negative mood. Hang Seng is up by 476 points. Among the others, though, Taiwan Weighted has lost 96 points, Shanghai is down 20 points and Nikkei is down 247 points.

Buzzers: Lupin is trading higher by 1.2% at Rs 617. The stock is gaining strength and trading above the Rs 610 hurdle from the morning session. It has good support on these levels, after which we will see further up-moves.

HCL Tech has been seeing good momentum in the last few trading days. The stock opened on a positive note, up by 1.3% at Rs 802. The stock has good support at Rs 795 and we can see can see additional upward movement from these levels.

The 5810-5780 levels will prove to be a trial for the Nifty. If it breaks and closes above this level, we may see a further downfall.