Markets Open With A Negative Sentiment

The Indian markets have opened on a negative note today. The Nifty opened with a negative bias of 30 points at 5611 and Sensex was down by 113 points at 18,590. Both the indices opened lower in the range of 0.56%-0.64%.

The advance-decline ratio is on the negative side in the morning session. On the NSE, 492 shares are trading in gains and 799 shares are down.

Top 5 NSE Gainers: HCL Tech is the top NSE gainer so far, up by 2.1%, followed by Lupin, GAIL, Ambuja Cement and Coal India.

Top 5 NSE Losers: Hero MotoCorp is the top loser this morning, trading down by 3.04 %. Cairn India, Tata Motors, DLF and Bharti Airtel are the other losers.

All the sectors are trading in the red zone. Auto is down by 154 points, Oil & Gas is down by 91 points, Bank by 61 points and Consumer Durables is lower by 71 points. 

On the global front, the Asian shares are trading with a negative sentiment. The Nikkei 225 market is negative by 200 points, Hang Seng is down by 250 points and Taiwan Weighted is down by 38 points. Shanghai Composite is down by 60 points.

Buzzers: Hero MotoCorp is trading 3.0% down at Rs 1526. The stock is losing strength for the past few days and is trading below the supports level. If stock is closed below Rs 1510, we may see further down moves in this counter.

Tata Motors has seen a good momentum in the last few trading days. The stock opened on a negative note, lower by 2.7%, and is trading at Rs 268. The stock has good support at Rs 265, and we may see can see a further downward move if does not sustain at this level.

The 5590-5560 level will be the limit for Nifty. A major support will be 5560. If Nifty breaks and trades below this level, we may see a further up-move.