Trades Remain Sluggish, Bharti Airtel Dips Over 2%
Suparna / 10 Jun 2013
The Indian markets are seeing range-bound trades with a positive bias. IT stocks witnessed good buying after the rupee touched its record low. The Nifty is trading up by 6 points at 5887 and Sensex is 20 points higher at 19,449.
The Indian markets were trading range-bound with a positive bias in the afternoon session. IT stocks witnessed good buying after the rupee touched its record low earlier in the session. The Nifty is trading up by 6 points at 5887 and Sensex is 20 points higher at 19,449.
The advance-decline ratio is on the positive side in afternoon trading session. On the NSE, 585 shares are trading in the green and 539 shares are in the red.
Top 5 Nifty Gainers: Cairn India is the top gainer this afternoon, up by 1.91%, followed by Hero MotoCorp, UltraTech Cement, NTPC and Mahindra & Mahindra.
Top 5 Nifty Losers: Bharti Airtel is down by 2.41%. Jindal Steel and Power, Kotak Mahindra Bank, Jaiprakash Associates and Sun Pharma are the others trading lower.
Most of the sectoral indices are trading in negatives as of now. Consumer Durables and Healthcare are trading lower by more than 1%. The IT, Capital Goods and FMGC indices, though, are trading in the positive zone.
On the global front, the Asian markets are trading higher. Japan’s Nikkei 225 is up 4.71%, and Taiwan Weighted, Straits Times, KOSPI and Hang Seng are also in the green.
Buzzers: Opto Circuits has slipped by over 18% on the back of heavy volumes on the bourses. The stock opened at Rs 29.45 and hit a 52-week low of Rs 23.90. This counter has tanked 52% in the past 7 trading sessions after the firm reported a sharp 94% year-on-year drop in its consolidated net profits.
United Breweries has crashed more than 7% to Rs 656 on the back of heavy volumes. The stock opened at Rs 713.35 on the NSE and made a low of Rs 639.
The Nifty is trading around its crucial support zone. If it breaks the 5870-5860 levels, it could move lower to 5830.
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