Metals and Rate Sensitive Shares Drag Markets Down
Suparna / 18 Mar 2013
The benchmark index continues to trade on a weak note in the afternoon trading session on Monday. Nifty is trading down by nearly 1% amid weak Asian cues, with rate sensitive shares leading as traders turned cautious ahead of tomorrow’s RBI policy meet.
The benchmark index continues to trade on a weak note in the afternoon trading session on Monday. Nifty is trading down by nearly 1% amid weak Asian cues, with rate sensitive shares leading as traders turned cautious ahead of tomorrow’s RBI policy meet. At 12:05 PM, Nifty is trading at 5822, down by 50 points and Sensex is trading at 19,252, down by 175 points.
The advance-decline ratio is on a negative side in the afternoon trading session. On the NSE, 955 shares are trading in red and 390 shares are trading in green.
Top 5 Gainers on NSE: Cipla is leading today gainers list on the NSE and is trading with gains of 1.43%, followed by Hindustan Unilever, HCL Technologies, Lupin and Cairn India.
Top 5 Losers on NSE: Coal India is among the top losers on the NSE, trading lower by 5.56%, followed by Maruti Suzuki India, ICICI Bank, Ambuja Cement and Tata Power.
Among the sectoral indices, 12 out of the 13 sectoral indices are trading in red in the afternoon trading session. FMCG is the lone sector trading in a positive zone. Metals, PSU, Realty and Auto are trading lower in the range of 1.45%-2.44%.
The Asian markets witnessed a sell-off after Cyprus announced that it would impose a one-time 10% tax on private bank deposits in exchange for equity shares in the bank, to avail a credit of 10 billion euros from global lenders for shoring up the nation’s financial position.
Japan’s Nikkei 225 and Hong Kong’s Hang Seng are trading lower by about 2 and a half per cent down. Shanghai Composite and Taiwan Weighted are trading down by about 1.50%.
Buzzers: National Aluminum Company (NALCO) is trading lower by over 3% at Rs 39 after the government received a poor response from investors for its share sale on Friday. The stock is currently trading below its floor price of Rs 40.
Thomas Cook is trading up by 3% as the company received SEBI’s approval for raising funds via Institutional Placement Programme (IIP).
Nifty is consolidating around the levels of 5820-5810. Once these levels are broken, we can expect Nifty to drift lower.
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