Markets Slip From Morning High, Manufacturing Data Disappoints
Suparna / 01 Apr 2013
The Indian markets have slipped from the highs seen in the morning trades, with the Nifty at 5699 and Sensex at 18,880. The HSBC India Manufacturing PMI for March 2013 has come in at 52, down from 54.2 in February.
The Indian markets have slipped from the highs seen in the morning trades on the first day of the new financial year. In the afternoon trading session, the Nifty is trading up by 17 points at 5699 and Sensex is 44 points higher at 18,880. Both indices are trading higher in the range of 0.23%-0.32%.
The market breadth remains healthy so far. On the NSE, 998 shares are in the green and 349 shares are in the red.
The country’s manufacturing sector witnessed the slowest rate of growth in 16 months in March 2013, an HSBC survey said today. The HSBC India Manufacturing Purchasing Manger’s Index (PMI), a measure of factory production, stood at 52 in March 2013, down from 54.2 in February.
Top 5 NSE Gainers: BHEL is leading the gainers list so far today, up by 3.93%. DLF, Cairn India, Reliance Infrastructure and Ranbaxy Labs are the others in positives.
Top 5 NSE Losers: Sesa Goa is among the top losers, trading lower by 2.12%, followed by Tata Motors, Jindal Steel and Power, IDFC and Tata Consultancy Services.
On the sectoral front, Realty, Capital Goods and Healthcare are trading firm in the range of 1.21%-2.95%. Metal, Auto and FMGC, however, are in the red. Auto stocks are trading weak ahead of the monthly sales numbers to be announced today.
On the global front, the Asian stocks fell in today’s trading session. Japan’s Nikkei 225 has extended its fall and is now trading lower by 2.17%, followed by Hang Seng and Taiwan Weighted.
Buzzers: Novartis India has dipped almost 5% to Rs 573 after the Supreme Court has denied a cancer drug patent to the company. The stock has touched its 52-week low on the BSE in today’s trading session.
Gitanjali Gems has extended its overnight gains of 5% and is now trading at Rs 618. The stock has touched a new 52-week high on the NSE in today’s trading session. It has seen good momentum in the past two trading sessions.
Going forward, the Nifty has support around the 5670-5650 levels.
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