Markets See Choppy Trades, Auto Puts Pressure

The Indian markets are trading sluggishly this morning, with investors and traders not seeing any clear triggers either way. Auto shares are putting the markets under pressure following the announcement of weak sales numbers for March. The Nifty is trading down by 13 points at 5691 and Sensex is 30 points lower at 18,834. Both the indices have dipped in the range of 0.18%-0.24%.

The advance-decline ratio is on the positive side so far. On the NSE, 772 shares are trading in the green and 433 shares are in the red.

Top 5 NSE Gainers: Cairn India is the top gainer on the NSE, trading up by 1.99%. Sun Pharma, Ambuja Cements, Lupin and IDFC are the others witnessing gains.

Top 5 NSE Losers: Bajaj Auto is trading down by 1.50%, followed Tata Motors, DLF, UltraTech Cement and HDFC.

Most of the sectoral indices are trading positive. Capital Goods, Metal and Power are trading firm in morning trades. Realty and Auto are under pressure, lower by 0.64%-0.87%.

Meanwhile, the Asian markets are trading on a mixed note. Taiwan Weighted, Hang Seng and Straits Times are trading in positive zone. Nikkei 225 and Shanghai Composite have dipped between 0.38%-0.66%.

Buzzers: Bajaj Auto is trading lower by 1.63% at Rs 1752 after reporting a 10% YoY drop in total sales at 301,231 units for the month of March 2013. The company, which is the country’s second largest two-wheeler maker, had sold 335,515 units during the same month in the previous year.

Talwalkars Better Value Fitness has surged about 7%, now trading at Rs 155. The stock has seen good momentum and a jump in volumes in today’s trading session.

The Nifty needs to sustain above the 5725-5730 zone for a fresh breakout, else it will drift back to the levels of 5650-5630.