Markets Open Flat

The Indian markets have opened on a flat note today after 2 consecutive days of witnessing a sell-off. The Nifty opened with a negative bias of 4 points at 5570 and Sensex was down by 9 points at 18,500. Both the indices opened lower in the range of 0.02%-0.06%.

The advance-decline ratio is in on a positive side in the morning session. On the NSE, 765 shares are trading in green and 452 shares are in red.

Top 5 NSE Gainers: Maruti Suzuki is the top NSE gainer so far, up by 2.91%, followed by DLF, GAIL, Bajaj Auto and UltraTech cement.

Top 5 NSE Losers: ITC is the top loser this morning, trading down by 1.4 %. M&M, IDFC, Ambuja Cement and HDFC are among the other losers.

5 out of the 13 sectors are trading in the red zone. Auto is up by 70 points, Oil & Gas is up by 86 points, Banks is down by 10 points and Consumer Durables is up by 30 points. 

On the global front, the Asian shares are trading with a mixed sentiment. The Nikkei 225 market is positive by 310 points, Hang Seng is down by 520 points and Taiwan Weighted is closed for today’s market session. Shanghai Composite is trading on a flat note.

Buzzers: Maruti Suzuki is trading up by 2.78% at Rs 1,328. The stock is gaining some strength after a bad performance by the auto sector since the last few days and is trading above its support level. If the stock closes below Rs 1,330, we may see a further upmove in this contour.

ONGC has seen a good momentum in the last few trading days. The stock opened on a positive note, higher by 1.5%, and is trading at Rs 312. The stock has a good support at the Rs 305 level, and we can see can see a further upmove if it sustains at this level.

The 5560-5540 levels will be a limit for the Nifty. A major support will be at 5540. If the Nifty breaks and trades below this level, we may see a further downmove.