Sensex Drops Below 20k, Bankex Down 1.5%
Suparna / 23 May 2013
The Indian markets have opened on a negative note today, and the global markets are also trading lower in the morning session. The Nifty opened with a negative bias of 40 points at 6044 and Sensex was down 138 points at 19930.
The Indian markets have opened on a negative note after seeing a sell-off in yesterday’s closing. The global markets are also trading lower in the morning session. The Nifty opened with a negative bias of 40 points at 6044 and Sensex was down 138 points at 19930. Both indices were down in the range of 0.82%-0.69%.
The advance-decline ratio is negative this morning. On the NSE, 305 shares are trading in gains and 1033 shares are down.
Top 5 Nifty Gainers: HDFC is the highest gainer so far, up by 1.29%. Bajaj Auto, Sun Pharma, TCS and UltraTech Cements are also trading higher.
Top 5 Nifty Losers: Ranbaxy Lab is the top loser, trading down by 6.3%, followed by JP Associates, DLF, BHEL and Reliance Infra.
12 out of the 13 sectors are trading in the red zone. Capital Goods and Banks are down by 278 points and 195 points respectively. Consumer Durables has dipped by 174 points and Metals are down 60 points. IT is currently the only gainer, up by 29 points.
On the global front, the Asian shares are trading with a negative sentiment. The Nikkei is down by a staggering 870 points, while the Hang Seng market has lost 460 points. Taiwan, KOSPI and Shanghai are all trading lower.
Buzzers: JP Associates has been trading lower, breaking its stiff support of Rs 70 in the morning session. The stock made a new low to touch Rs 67, and if it manages to break this level, we may see it move further down to Rs 60.
Ranbaxy Labs opened on a negative note and is trading over 7% down. It has broken a stiff support at Rs 405, and if it does not manage to hold this position, it may dip lower to Rs 390.
The Nifty has broken a strong support level at 6020. If it closes above this level, it may recover.
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