Markets Lose Gains, REL Down By 3%

The Indian markets are trading up with a positive bias in the afternoon session after the heavyweight Reliance Industries is down by more than 3% dragging the Nifty below 5700. Global cues are trading in negative, and the Nifty is trading at 5696, up by 8 points, while Sensex is trading up by 17 points at 18,760. Both the indices are trading higher in the range of 0.17%-0.08%.

The advance-decline ratio is on the positive side. On the NSE, 695 shares are trading in green and 630 shares are in red.

Top 5 NSE Gainers: M&M is leading the gainers’ list so far, up by 4.4 %. Sesa Goa, Sun Pharma, Ambuja Cement and SBI are also in gains.

Top 5 NSE Losers: Reliance is trading lower by 3.4%, followed by Reliance Infra, TCS, Ranbaxy Labs and Tata Motors.

5 out of the 13 sectoral indices are trading in loss in the afternoon trading session. Oil & Gas, IT and Tech are witnessing some sell-off, trading lower by 0.8 % and Banks, FMCG and Healthcare are trading in higher range by 0.7%–1.5%. 

All the Asian markets are trading mixed. Hang Seng is lower by 102 points and Nikkei is up by 161 points, KOSPI and Straits Times are trading on a flat note.

Buzzers: Reliance is trading lower by 2.9% at Rs 780. The stock is trading downward after it reported flat growth in sales. From the morning trading session, it lost some strength from the Rs 800 level. If the stock manages to close below Rs 770, we can see a sell-off up to Rs 750. 

M&M is trading above its key psychological level of Rs 886. The stock has dipped to around Rs 845 in today’s trade. It has seen a dip in prices along with a jump in volumes.

5740 and 5750 are the crucial hurdles for Nifty. If it manages to close above this level, we will see a positive trade up to 5800.