Trades Continue To Reflect Negative Sentiment

The Indian markets have opened on and continued with the negative note after seeing a sell-off yesterday. The global markets are showing mixed trades in the morning session. The Nifty opened with a negative bias of 20 points at 5946 and Sensex was down 75 points at 19605. Both indices opened down in the range of 0.33%-0.35%.

The advance-decline ratio is negative this morning. On the NSE, 574 shares are trading in gains and 707 shares are lower.

Top 5 Nifty Gainers: Tata Steel is the top gainer so far, up by 4.11%. BPCL, Lupin, Cairn India and NTPC are the others in the list.

Top 5 Nifty Losers: Sun Pharma is the top loser this morning, trading down by 3.8%, followed by BHEL, Cipla, Maruti Suzuki and SBIN.

9 out of the 13 sectors are trading in the red zone. Healthcare and Auto are down by 111 points and 104 points respectively. Consumer Durables have lost 44 points and Banks have dipped 41 points in the morning trading session. On the other hand, Metal, Oil & Gas and Capital Goods have all gained between 40-50 points.

The Asian shares are trading in negatives as of now. The Nikkei market is down by 282 points and Hang Seng market has dropped 45 points. Taiwan, KOSPI and Shanghai are also in the red.

Buzzers: DLF opened lower and has broken a stiff support at Rs 210 level in the morning session. The stock made a new low of Rs 206, and if it manages to break this level, it could move lower to Rs 200.

Sun Pharma opened negative and has moved down over 3%. The stock has broken stiff support at Rs 980. If it does not manage to hold this position, we could see it further move down to Rs 965.

The Nifty has broken its strong support level of 5970. If it manages to close above this level, it may recover from this scenario. Otherwise, 5920 is the next support level for the index.