Markets Witness Profit Booking, ITC Collapses 4%

The Indian markets continued to trade in a negative territory ignoring the fall in consumer- price inflation. After 4 long months, the consumer price inflation has come back to single digits at 9.39% for April 2013 as against 10.39% for the previous month. In the afternoon trading session at 12:30 PM, the Nifty is trading down by 57 points at 6049 and Sensex is trading down by 200 points at 19,920. 

The advance-decline ratio is on a negative side in the afternoon session. On the NSE, 858 shares are trading in red and 426 shares are trading in green. 

Top 5 NSE Gainers: Dr Reddy’s Labs is the top gainer on the NSE, trading up by 1.31%, followed by Asian Paints, NTPC, Power Grid and HDFC Bank. 

Top 5 NSE Losers: ITC is trading down by 4.21% and is among the top losers on the NSE, followed by IndusInd Bank, Ranbaxy Labs, BHEL and GAIL.

Among the sectoral indices, all the sectors are trading in the negative zone. FMCG, Capital Goods and IT are the top losers among the sectoral indices. 

On the global front, the Asian markets are trading mixed. Japan’s Nikkei 225 is trading up by 1.18% at 14,782, followed by KOSPI, trading higher by 0.20%. Hong Kong’s Hang Seng is trading lower by 1.09%, followed by Taiwan Weighted and Shanghai Composite. 

Buzzers: Bank of Baroda has slipped down by 1.50% to Rs 692.95 on reporting a 32% YoY fall in its net profit at Rs 1029 crore for the fourth quarter ended March 31,2013 due to higher provisioning for bad loans. 

HDFC surged to a new 52-week high of Rs 711.45. The stock is currently trading at Rs 705, up by 0.31% in a sluggish market. It had opened at Rs 705.

The Nifty is trading below 6050 and going ahead, the level of 6020 will be its crucial support.