Markets Witness Range Bound Trade

The Indian markets became flat amid a volatile trading session in the afternoon. The stocks of FMCG and Consumer Durables put some pressure on the markets. The National Stock Exchange’s 50-share Nifty is trading higher by 7 points at 5502, while the Bombay Stock Exchange’s 30-share index Sensex is trading at 18,250, up by 23 points. Both the indices are trading up in the range of 0.11% to 0.13%.

The advance-decline ratio is on a negative side in the afternoon trading session. On the NSE, 768 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 2.71%, followed by Lupin, Axis Bank, Kotak Mahindra Bank and Tata Consultancy Services. 

Top 5 NSE Losers: ONGC is trading down by 2.65% and is among the top losers on the NSE, followed Sun Pharma, Jindal Steel and Power, UltraTech Cement and BHEL. 

The key sectoral indices such as IT and Technology are trading firm up in range of 0.76%-0.90%. Metals, FMCG and PSU are under a selling pressure. 

The Asian markets are trading mixed with KOSPI trading higher by 0.77%, followed by Japan’s Nikkei 225, higher by 0.72% and Hang Seng. Straits Times and Shanghai Composite are trading in a negative zone.  

Buzzers: Shasun Pharmaceuticals has moved by over 4% to Rs 68 in an otherwise subdued market after the company said that it has entered into a licensing agreement with the Swiss-based Debiopharm Group for the manufacturing of Huperzine-A. 

Glaxo Smithkline (GSK) Consumer Healthcare is trading lower by 2% at Rs 3980, extending its previous day’s 3% fall after the packaging foods maker’s chairman Simon Scarff expressed his wish to step down from April 30, 2013. 

The market is trading in a tight range of 20 points. Going ahead, 5490 will be an important support on an intraday basis.