Nifty Tanks 100 Points

The Indian markets started off on a negative note and dipped further as the day progressed. The effect further deepened when the GDP numbers for Q4FY13 came in at 4.7% as against 5.1% during the same period last year. The Nifty is trading at 6018 down by 105 points (-1.69%) and Sensex is down by 339 points (-1.65%) to trade at 19870.

The breadth of the market is in the negative zone. On the NSE, 400 shares are in the green and 985 shares are in red.

Top 5 Nifty Gainers: Sesa Goa is leading the gainers list so far, up by 1.9 %. Infosys, HCL Tech, and TCS are also in trading in the green territory.

Top 5 Nifty Losers: DLF is trading lower by 5.14%, followed by Hindalco, Reliance Infra, PNB and IDFC.

On a sectoral basis out of the 13 indices 12 are trading in red in the afternoon trading session. The only exception is the IT sector which is up by 51 points. Banks and Auto indices are the top losers, down by 310 points and 187 points respectively. The other draggers at this juncture are the Oil & Gas and Capital Goods indices, which are down by 180 points and 158 Points respectively.

On the global front, most of the Asian markets are giving out mixed vibes. Nikkei is a top gainer with a gain of 185 points and Taiwan and KOSPI are also trading on a positive note. Hang Seng is down by 92 points.

Buzzers: The shares of Opto Circuits were down over 20% and hit fresh lows after the company posted 95% drop in its net profit. Since the morning session, the stock has lost some strength from the Rs 45 level and has hit an all-time low of Rs 35. If the stock closes below this level, it could see more of a downside from the present levels

Realty-major DLF went down by nearly 3% today after it reported a net loss of Rs 4.19 crore in its fourth quarter of FY13 due to poor sales and losses reported by its subsidiaries.

As we mentioned earlier, 6050 is a laxman rekha for the Nifty. If the index breaks this level, we could see it move lower to the levels of 6010.