Markets Open Flat

The Indian markets have opened on a flat note today as the global markets were also trading flat. The Nifty opened with a positive bias of 8 points at 5988 and Sensex was up by 19 points at 19,710. Both the indices opened up in the range of 0.10%-0.09%.

The advance-decline ratio is in on the positive side in the morning session. On the NSE, 733 shares are trading in gains and 533 shares are down.

Top 5 NSE Gainers: ONGC is the top NSE gainer so far, up by 2.4%, followed by GAIL, LUPIN, Power Grid and BPCL. 

Top 5 NSE Losers: Tata Steel is the top loser this morning, trading down by 1.4%, followed by HCL Tech, Tata Power, BHEL and Bajaj Auto.

Ten out of 13 sectors are trading in the green zone. Oil & Gas and Healthcare are the top gainers, up by 85 points and 77 points respectively. Mid-Cap and Banks are also gainers by 56 points and 36 points respectively, while Consumer Durables and Auto are losing strength, down by 54 points and 13 points respectively. 

On the global front, the Asian shares are trading on a flat note with a mixed sentiment. The Hang Seng market is the top loser for today’s session, down by 90 points. Nikkei market is down by 5 points. Taiwan and KOSPI are flat with a positive bias.

Buzzers: HCL Tech opened with a negative sentiment and broke its stiff support at Rs 750. The stock made a new low at Rs 742.50 and if it manages to break this level, we will see further down-move up to Rs 730 for the further trading session.

Ranbaxy slipped by 2.1% as the generic drug-maker has been fined with USD 500 million by the US government after its subsidiary pleaded guilty for the sale of adulterated drugs manufactured in India. The stock is trading around Rs 442. If it breaks this level, we will see a down fall.

The 5970-5950 levels will be the limit for Nifty. A major hurdle will be 6040. If the Nifty breaks and trades below this level, we may see a further down-move.