Markets Recover Morning Loss, Oil & Gas Pull Up
Vinaya Patil / 05 Jun 2013
The Indian markets opened on a negative note after seeing a sell-off yesterday. However, they saw some recovery as the markets opened. The global markets were also seen in a negative zone in the morning session. The Nifty opened with a negative bias at 5904 and Sensex was down at 19,511. Both the indices opened down in the range of 0.24%-0.18%.
The Indian markets opened on a negative note after seeing a sell-off yesterday. However, they saw some recovery as the markets opened. The global markets were also seen in a negative zone in the morning session. The Nifty opened with a negative bias of 15 points at 5904 and Sensex was down 42 points at 19,511. Both the indices opened down in the range of 0.24%-0.18%.
The advance-decline ratio is almost balanced. On the NSE, 673 shares are trading in gains and 649 shares are down.
Top 5 NSE Gainers: Hindalco is the top NSE gainer so far, up by 1.74%, followed by Maruti Suzuki, IndusInd Bank, GAIL and Reliance.
Top 5 NSE Losers: ACC is the top loser this morning, trading down by 1.8%, followed by UltraTech Cement, ITC, Ambuja Cement, and HCL Tech.
Seven out of 13 sectors are trading in the green zone. Capital Goods and Oil & Gas are the top gainers trading up by 58 points and 48 points respectively. Auto and Metals are also gainers, up by 41 points and 34 points respectively. However, FMCG is the top loser down by 57 points.
On the global front, the Asian shares are trading with a negative sentiment. The Nikkei market tanked by 254 points. The Hang Seng market is down by 213 points in today’s session, KOSPI, Shanghai, and Taiwan indices are trading on a negative note.
Buzzers: Hindalco opened with a positive sentiment. The stock hit a high at Rs 102.75 It broke a stiff resistance in the morning session at Rs 100. If it manages to break this level, we will see an up-move up to Rs 105 in the further trading session.
M&M Financial Services shares gained 3%. The stock made a new high at Rs. 247.90. If it manages to break the level of Rs 250, we will see an up-move up to Rs 270.
Nifty has a strong support at 5880 level. If it breaks this level, we will see a sell-off in the market.
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