Markets Flat, Expect Volatility On Expiry Day

The Indian markets have opened on a flat note today. The Nifty opened with a negative bias of 7 points at 6097 and Sensex was down 13 points at 20134. Both indices opened down in the range of 0.12%-0.04.

The advance-decline ratio is negative in the morning session. On the NSE, 515 shares are trading in gains and 733 shares are down.

Top 5 Nifty Gainers:

Tata Motors is the top gainer so far, up by 3.64%. Mahindra & Mahindra, NMDC, Ranbaxy Labs and Sun Pharma are among the others leading the gains.

Top 5 Nifty Losers:

ONGC is the top loser this morning, trading down by 1.9%, followed by JP Associates, ICICI Bank, Cipla and Bharti Airtel.

9 out of the 13 sectors are trading in the green. The Auto is a strong gainer, up by 182 points. Oil & Gas and Consumer Durables have dipped by 65 points and 62 points respectively. Banks are down 55 points and PSUs are 18 points lower.

On the global front, the Asian shares are showing a negative sentiment. The Nikkei market is down by 451 points so far and Hang Seng has dropped 110 points. KOSPI, Shanghai and Taiwan Weighted are also in the red.

Buzzers:

Tata Motors has opened on a positive sentiment after its results announcement. The stock has hit a high of Rs 319. It has broken a stiff resistance in the morning session at the Rs 315 level. If it manages to break this level, we may see a further up-move to Rs 325.

DLF opened negative. The company’s results are expected to come in today. The stock is currently down more than 1.5%. If it breaks its stiff support level of Rs 205, it could move further down to Rs 195.

The Nifty has a strong support at 6050. Its further moves will be determined once it crosses this level.