Nifty Plays Around 5500, EClerx Shines
Vinaya Patil / 10 Apr 2013
The Indian markets opened on a steady note ahead of the trade balance data to be released today (April 10), and will picture the annual current account deficit (CAD) numbers for FY13. Nifty is trading flat at 5500 and Sensex is trading up at 18,260. Both the indices are trading up in the range of 0.13% to 0.19%.
The Indian markets opened on a steady note ahead of the trade balance data to be released today (April 10), and will picture the annual current account deficit (CAD) numbers for FY13. The Finance Minister is confident of the fiscal deficit being lower than 5.2%.
In the morning trading session at 09:55 AM, the Nifty is trading flat with a positive bias at 5500 and Sensex is trading up by 28 points at 18,260. Both the indices are trading up in the range of 0.13% to 0.19%.
The advance-decline ratio is on a negative side in the morning trading session. On the NSE, 642 shares are trading in red and 410 shares are trading in green.
Top 5 NSE Gainers: HDFC is the top gainer on the NSE, trading up by 1.87%, followed by Bharti Airtel, Lupin, Tata Consultancy Services and Kotak Mahindra Bank.
Top 5 NSE Losers: Tata Motors is trading down by 1.58% and is among the top losers on the NSE, followed by IDFC, Mahindra and Mahindra, UltraTech Cement and Dr Reddy’s Labs.
Among the sectoral indices, most sectors are trading in red. IT and Technology, after a dull session in the past two trading sessions, bounced back strongly and is trading about 1% higher in today’s trade. Auto, Consumer Durables and PSU are trading weak in the morning session.
Meanwhile, the Asian markets are trading mixed. Nikkei 225 continues its upward journey trading higher by 0.79%, followed by KOSPI, Taiwan Weighted and Hang Seng. Straits Times and Shanghai Composite are trading in a negative zone.
Buzzers: EClerx Services rallied more than 5% in the opening session on the NSE over hopes that the company may buy back its own equity shares from public share holders. The board of directors at a meeting held on April 9 has approved amendment of the article enabling buy-back of as much as 10% of shares of the total paid-up equity capital and free reserves of the company.
ONGC is trading lower by 1.81% at Rs 298.35. The stock has slipped below the levels of Rs 300, which is a key support for the stock. It opened at Rs 304.40 and registered a high of Rs 305.
The market erased its gains and is now trading flat. The key level to watch out for is 5470.
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