Markets Open Flat, Nifty Consolidates Around 5900
Vinaya Patil / 10 Jun 2013
The Indian markets have opened on a flat note after seeing some recovery in the last session. The global markets were seen trading in a positive zone in the morning session. The Nifty opened with a positive bias at 5887 and Sensex was up at 19,450. Both the indices opened up in the range of 0.10%-0.10%.
The Indian markets have opened on a flat note after seeing some recovery in the last session. The global markets were seen trading in a positive zone in the morning session. The Nifty opened with a positive bias of 5 points at 5887 and Sensex was up by 20 points at 19,450. Both the indices opened up in the range of 0.10%-0.10%.
The advance-decline ratio is balanced in the morning session. On the NSE, 670 shares are trading in gains and 672 shares are down.
Top 5 Nifty Gainers: TCS is the top Nifty gainer so far, up by 1.45%, followed by Cairn India, UltraTech Cement, M&M and NTPC.
Top 5 Nifty Losers: Kotak Mahindra is the top loser this morning, trading down by 2.3%, followed by Sun Pharma, Jindal Steel, IndusInd Bank and Sesa Goa.
Six out of the 13 sectors are trading in the red zone. Banks is the top loser, trading down by 104 points. Heathcare and Consumer Durables are also down by 80 points and 62 points respectively. However, IT and Capital Goods are gainers, up by 55 points and 37 points correspondingly.
On the global front, the Asian shares are trading with a positive sentiment. The Nikkei market is the top gainer, up by 525 points. Hang Seng is up by 10 points, while KOSPI, Shanghai, and Taiwan indices are trading on a positive note.
Buzzers: Wipro is trading with some positive sentiment. The stock hit a high at Rs 344 and broke its stiff support in the morning session at Rs 340. If it breaks this level, we will see an up-move up to Rs 350.
Fortis Healthcare is up by 1.5% as the company raised USD 55 million (Rs 310 crore) through the FCCB route. These funds will help the company in its expansion across India over the next 3 to 5 years and to reduce its debt.
Nifty has a strong support at the 5880 level. Major hurdles for Nifty would be between 5940-5980.
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