Indices Still Hovering Around 20000

The Indian markets opened on a negative note today. The Nifty opened with a negative bias of 7 points at 6061 and Sensex was up 12 points at 19977. Both indices are down in the range of 0.13%-0.09%.

The advance-decline ratio is balanced in the morning session. On the NSE, 634 shares are trading in gains and 687 shares are down.

Top 5 NSE Gainers: HCL Tech is the top NSE gainer so far, up by 4.11%, followed by TCS, Mahindra & Mahindra, Asian Paints and Ambuja Cements.

Top 5 NSE Losers: Sun Pharma is the top loser this morning, trading down by 2.17%. Axis Bank, Ranbaxy Labs, PNB and Reliance Infra are among the others in losses.

8 out of the 13 sectors are trading in the red zone. Capital Goods and Heathcare are the top losers, down by 78 points and 70 points respectively. Banks are down by 55 points and Oil & Gas has dipped 36 points.

On the global front, the Asian shares are trading with a mixed sentiment. The Hang Seng market is the top loser as of now, down by 90 points, and Nikkei is 23 points lower. Shanghai, Taiwan Weighted and Kospi are trading flat with a positive bias.

Buzzers: PNB opened in negatives and has broken its stiff support of Rs 750 in the morning session. The stock has made a new low of Rs 733, and if it manages to break this level, we may see it go further down to Rs 725.

Sun Pharma is the top loser of the day, down by 2.36% at Rs 962. The stock has not managed to sustain at the Rs 970 level. If it breaks the physiological level of Rs 955, the stock may come into a negative phase.

The 5990-6020 levels will be a lakshman rekha for the Nifty. 6090 will be a major hurdle. If the Nifty breaks and trades below this level, we may see a further down-move.