Nifty Edges Lower; Bajaj Auto Down By 4%
Vinaya Patil / 03 Jun 2013
The weakness in the Indian markets accelerated and the bulls hovered around the level of 5950, pulled down by auto stocks in the afternoon session. The Nifty is trading at 5952 and Sensex is trading at 19,663. Both the indices are trading lower by 0.49%-0.56%.
The weakness in the Indian markets accelerated and the bulls hovered around the level of 5950, pulled down by auto stocks in the afternoon session. The Nifty is trading at 5952, down by 32 points and Sensex is trading at 19,663, down by 98 points. Both the indices are trading lower by 0.49%-0.56%.
The advance–decline ratio is on the negative side in the afternoon trading session. On the NSE, 702 shares are trading in red and 525 shares are trading in green.
Top 5 NSE Gainers: Infosys is trading as the top gainer, up by 4.28%, followed by Lupin, Bank of Baroda, GAIL and Mahindra and Mahindra.
Top 5 NSE Losers: Bajaj Auto is trading as the top loser on the NSE, down by 4.14%, followed by Maruti Suzuki India, Hero MotoCorp, Sun Pharma and Ranbaxy Labs.
Most sectors are trading in red in the afternoon trading session. IT, TECk and Healthcare are trading as gainers among the sectoral pack. Oil& Gas, Power and FMCG are trading down by more than 1%.
On the global front, the Asian markets are trading in red. Japan’s Nikkei 225 is trading lower by 3.87%, followed by Strait Times, Hang Seng, KOSPI and Shanghai Composite.
Buzzers: Tulip Telecom slumped 5%, extending Friday’s fall after the company reported a consolidated net loss of Rs 656.59 crore for the quarter ended March 31, 2013.
Escorts has surged as much as 4% to Rs 72.25 over heavy volumes. The stock is performing well in this sluggish market over the first sign of a good monsoon in major parts of the country.
The market has a strong support around the levels of 5920-5910. If it holds this level, we can see a bounce back to 5970.
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