SC’s Coal Scam Comment Upsets Markets
Vinaya Patil / 30 Apr 2013
The Indian markets, after opening in green, are now trading in a negative zone as the country’s apex court said that the sharing of the CBI report on Coal Scam with the government has shaken its entire process. Traders’ sentiments turned negative on concerns that the on-going Parliament session may get washed out.
The Indian markets, after opening in green, are now trading in a negative zone in the afternoon trading session as the country’s apex court said that the sharing of the CBI report on Coal Scam with the government has shaken its entire process. Traders’ sentiments turned negative on concerns that the on-going Parliament session may get washed out.
At 12:30 PM, the Nifty is trading down by 4 points at 5899 and Sensex is trading higher by 30 points at 19,416.
The advance-decline ratio is on the negative side in the afternoon trading session. On the NSE, 762 shares are trading in red and 498 shares are trading in green.
Top 5 NSE Gainers: Hindustan Unilever is the top gainer on the NSE, trading up by 17.53%, followed by ITC, HCL Technologies, Dr Reddy’s Labs and Sun Pharma.
Top 5 NSE Losers: Reliance Infrastructure is trading down by 3.34% and is among the top losers on the NSE, followed by Bharat Petroleum, ONGC, DLF and Hindalco Industries.
On the sectoral front, most sectors are trading in red. FMCG, Healthcare and IT are trading firm in the afternoon trading session. Oil & Gas and Realty are the top losers among the sectoral indices, down in the range of 1.18%-1.88%.
Most of the Asian markets are trading in green. KOSPI is trading higher by 1.18%, followed by Taiwan Weighted, Hang Seng and Straits Times. Japan’s Nikkei 225 is the only market trading in the negative zone, down by 0.17%.
Buzzers: Shree Cement is trading higher by 2.65% to Rs 4534 after reporting a more than double net profit at Rs 274 crore for the quarter ended March 2013 over a robust performance from the power sector and a lower depreciation.
Jet Airways shares rose by as much as 2% a day after a founder group company of the carrier said it would sell a stake as part of the public float rules. Abu Dhabi’s Etihad agreed last week to acquire a 24% stake in India’s No.1 carrier, giving it a bigger foothold in the fast-growing aviation market.
The Nifty has a support around the levels of 5870. If it breaks this level, we can expect a free fall.
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