Markets Open Lower, Bankex Down 200 Points

The Indian markets have opened lower today. The Nifty opened with a negative bias of 20 points at 5810 and Sensex was down 55 points at 19114. Both indices were down in the range of 0.42%-0.31%.

The advance-decline ratio is balanced in the morning session. On the NSE, 679 shares are trading in gains and 637 shares are down.

Top 5 NSE Gainers: JP Associates is the top NSE gainer so far, followed by Bharti Airtel, Sesa Goa, HCL Tech and Hero MotoCorp.

Top 5 NSE Losers: IndusInd Bank is the top loser this morning, trading down by 2.7%. Bank of Baroda, Tata Motors, IDFC and SBI are among the others in losses.

6 out of the 13 sectors are trading in the red. Banks and Capital Goods are the top losers, down by 200 points and 100 points respectively. Mid-Caps and Auto have dipped 42 points and 40 points.

On the global front, the Asian shares are showing a negative sentiment. The Nikkei market is lower by 43 points, Hang Seng is down 256 points and Taiwan Weighted has lost 27 points. Shanghai is trading on a flat note.

Buzzers: JP Associates is trading 2.14 % up at Rs 78. The stock has gained some strength after a bad perform over the last few days and is trading above its support level. Above Rs 80, it has crucial hurdles at Rs 82 and Rs 84. If it sustains above this level, we may see a further up-move.

HUL has seen good momentum in the last few trading days. The stock opened higher by 4.89% and is trading at Rs 485. The stock has good support at the Rs 480 level, and we can see can see more of an up-move if it sustains at this level.

The 5770-5780 levels will be a lakshman rekha for the Nifty. 5840 will be a major hurdle. If the Nifty breaks and trades above this level, it may move higher.