Markets Open On A Flat Note

The Indian markets have opened on a flat note after seeing some recovery yesterday. The global markets were also seen in a negative zone this morning. The Nifty opened with a negative bias at 5905 and Sensex was down at 19,489. Both the indices opened down in the range of 0.26%-0.16%.

The advance-decline ratio is on the positive side in the morning session. On the NSE, 769 shares are trading in gains and 538 shares are down.

Top 5 Nifty Gainers: Lupin is the top Nifty gainer so far, up by 1.85%, followed by Dr Reddy’s Labs, BPCL, Reliance Infra and Tata Power.  

Top 5 Nifty Losers: Maruti Suzuki is the top loser this morning, trading down by 2.3%, followed by UltraTech Cement, Ambuja Cement, ITC and L&T.

Seven out of 13 sectors are trading in the red zone. Banks and Auto are the top losers in the morning session, down by 49 points and 23 points. However, Healthcare and IT are the top gainers, up by 51 points and 25 points respectively. Oil & Gas is the top gainer up by 24 points. 

On the global front, the Asian shares are trading with a negative sentiment. The Hang Seng market is the top loser for the day, down by 288 points. The Nikkei market is down by 93 point for today’s session. KOSPI, Shanghai, and Taiwan indices are trading on a negative note.

Buzzers: TCS opened with some positive sentiment. The stock hit a high at Rs 1503 and broke its stiff support in the morning session at Rs 1500 level. If it breaks this level, we will see an up-move up to Rs 1510 for the further trading session.   

JM Financial extended its gains, rising nearly by 6%. The stock touched a fresh 52-week high of Rs 31.35 and gained 22% in 5 sessions and 72% in the past 1 month.

Nifty has a strong support at the 5900-5880 level. Major hurdles for the Nifty are between 5940-5980.