Markets Trading Flat, Sun Pharma At All-Time High
Suparna / 29 May 2013
The Indian markets have opened the day on a flat note. The Nifty opened with a negative bias of 14 points at 6096 and Sensex was down 30 points at 20133. Sun Pharma is the top gainer so far, up nearly 4% so far.
The Indian markets have opened on a flat note after seeing mixed trades yesterday. The Nifty opened with a negative bias of 14 points at 6096 and Sensex was down 30 points at 20133. Both indices opened lower in the range of 0.22%-0.14.
The advance-decline ratio is negative this morning. On the NSE, 575 shares are trading in gains and 677 shares are down.
Top 5 Nifty Gainers: Sun Pharma is the top gainer so far, up 3.98%. Hero MotoCorp, Tata Motors, HCL Tech and BPCL are the others in the list.
Top 5 Nifty Losers: Ranbaxy Labs is trading lower by 2.6%, followed by JP Associates, UltraTech Cements, Grasim and HDFC.
9 out of the 13 sectors are trading in the green zone. Heathcare is up by 104 points, Auto is 57 points higher and IT has gained 35 points. Banks and Capital Good are the top losers, trading down by 101 points and 53 points respectively.
In the Asian markets, the Nikkei is up by 176 points and KOSPI, Shanghai and Taiwan are also in positives. Hang Seng is down by 156 points.
Buzzers: Sun Pharma opened on a positive sentiment after its results announcement yesterday. The stock has hit its all-time high at Rs 1050. It has broken a stiff resistance at Rs 1035 in the morning session. If it manages to break this level, it may see a further up-move up to Rs 1075.
ONGC, which is expecting good results today, is seeing strong moves and is currently up by over 0.4%. If the stock breaks its stiff resistance at Rs 340, it could go up to Rs 350.
The Nifty is consolidating between the 6050-6120 mark. Its further moves will be determined once it crosses this level.
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