Markets Continue To Trade Flat

The Indian markets are trading down with a negative bias in the morning session as global cues are trading in positive. The Nifty is trading at 6165, down by 3 points and Sensex is trading down by 14 points at 20,232. Both the indices are trading lower in the range of 0.7%-0.9%.

The advance-decline ratio is on the negative side. On the NSE, 603 shares are trading in green and 772 shares are in red.

Top 5 NSE Gainers: NTPC is leading the gainers’ list so far, up by 2.3%. Ambuja Cement, JP Associates, Cairn India and Grasim are also in gains.

Top 5 NSE Losers: IndusInd Bank is trading lower by 2.6%, followed by HCL Tech, Dr Reddy’s Lab, Bharti Airtel and Ranbaxy Labs.

Eight of the 13 sectoral indices are trading in losses in the afternoon trading session. Consumer Durables and Healthcare are down by 95 points and 45 points, Oil and Gas, FMCG, Banks and Metals are trading in the lower range of 0.4% – 0.9%. 

All the Asian markets are in trading in a mixed session. Hang Seng is up by 38 points and Nikkei is up by 100 points. KOSPI and Shanghai are trading on a positive note.

Buzzers: IndusInd Bank is trading lower by 2.6% at Rs 510, losing some strength from the morning trading session. If the stock is closes below Rs 500, we could see a sell-off up to Rs 485. 

NMDC is trading above its key psychological level of Rs 120. The stock has dipped by around Rs 122 in today’s trades. It has seen a dip in prices along with a jump in volumes.

We had mentioned in our last update that 6140 is the laxman rekha for the Nifty. It made a low of 6156 and took a U-turn from there.