Trades Remain Range-Bound
Suparna / 18 Jun 2013
The Indian indices are trading in a tight range, weighed down by financial stocks and mixed cues from the global markets. The Nifty 50-share index is trading lower by 16 points at 5833 and Sensex is trading 69 points down at 19,256.
The Indian indices are trading in a tight range, weighed down by financial stocks and mixed cues from the global markets. The Nifty 50-share index is trading lower by 16 points at 5833 and Sensex is trading 69 points down at 19,256.
The advance-decline ratio is in the positive in the afternoon trading session. On the NSE, 670 shares are trading in the green and 524 shares are in the red.
Top 5 Nifty Gainers: Kotak Mahindra Bank was the top gainer in the afternoon trading session, up by 1.16%. Hindalco Industries, Infosys, Tata Power and Bharti Airtel are the others witnessing gains.
Top 5 Nifty Losers: Ranbaxy is down by 3.34%, followed by UltraTech Cement, Bank of Baroda, Axis Bank and Tata Motors.
Most of the sectoral indices are trading in the red. TECk and Realty are the highest gainers in the pack, while Bankex and Consumer Durables are in losses.
On the global front, the Asian markets are trading on a mixed note. Straits Times is trading higher by 1.33%, followed by KOSPI, Taiwan Weighted and Shanghai Composite. The Hang Seng is trading lower by 0.27%, while Japan’s Nikkei 225 is down 0.20%.
Buzzers: Venus Remedies has surged up 4.47% to Rs 286.30 after the company said it has received a patent from Mexico for its novel antibiotic product Potentox. The stock has seen an up-move along with a rise in volumes.
Panacea Biotech is trading higher by 7%, extending its previous day’s 20% rally on the BSE on the back of heavy volumes.
The Nifty has strong support around 5780-5770. If the index breaks this support, it could touch the 5765 level.
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