Sensex Below 19500, Bharti Airtel Down 2.5%
Suparna / 06 Jun 2013
The Indian markets have opened lower after seeing some recovery in yesterday’s closing. The global markets are also in the red. The Nifty opened with a negative bias of 43 points at 5880 and Sensex was down 139 points at 19433.
The Indian markets have opened lower after seeing some recovery in yesterday’s closing. The global markets are also in the red. The Nifty opened with a negative bias of 43 points at 5880 and Sensex was down 139 points at 19433. Both indices opened down in the range of 0.70%-0.69.
The advance-decline ratio is on the negative side this morning. On the NSE, 432 shares are trading in gains and 851 shares are down.
Top 5 Nifty Gainers: HCL Tech is the top gainer so far, up by 1.22%, followed by Bank of Baroda, Cipla, L&T and TCS.
Top 5 Nifty Losers: Bharti Airtel is the top loser this morning, trading down by 2.5%. Among the others in losses are Hindalco, Reliance Infra, Hero MotoCorp and GAIL.
11 out of the 13 sectors are trading in the red. Banks and Oil & Gas are the top losers so far, down by 82 points and 81 points respectively. Auto has dipped by 70 points and Metals have lost 65 points. Capital Goods is the top gainer, up by 37 points.
The Asian shares are trading in the red. The Hang Seng market is down by 254 points and Nikkei is down by 50 points. The Kospi, Shanghai and Taiwan Weighted are all in negatives.
Buzzers: Bharti Airtel opened lower and hit a low at Rs 294.30. It has broken a stiff support level at Rs 295 in the morning session. If it manages to break the Rs 287 level, we may see a further drop.
The shares of HCL Tech have gained 1.4% as of now. The stock made a new high at Rs 737, and if it manages to break this level, it could see a further up-move to Rs 750.
The Nifty’s is banking on a strong support at 5880-5870. If it breaks this level, it is likely that we see a sell-off in the market.
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