Trades Sluggish, Nifty Range-Bound Around 5600
Suparna / 25 Jun 2013
The Indian markets have opened flat in the morning trading session. The Nifty opened with a negative bias of 3 points at 5587 and Sensex was down 4 points at 18,530. The global indices are also trading lower.
The Indian markets have opened flat in the morning trading session after seeing a sell-off yesterday. The Nifty opened with a negative bias of 3 points at 5587 and Sensex was down 4 points at 18,530. Both indices opened down in the range of 0.05%-0.01%. The global indices are also trading lower.
The advance-decline ratio is on the negative side. On the NSE, 504 shares are trading in gains and 827 shares are down.
Top 5 Nifty Gainers: DLF is the top gainer so far, up by 2.4%. ONGC, BPCL, Hindalco and IndusInd Bank are the others trading higher.
Top 5 Nifty Losers: Tata Motors is the top loser this morning, trading down by 3.86%, followed by Ranbaxy Labs, JP Associates, Maruti Suzuki and Lupin.
As many as 10 out of the 13 sectors are trading in the red zone. Auto is down by 132 points and Consumer Durables have dropped 83 points. Mid-Caps are also down by 58 points. Oil & Gas, though, is seeing positive trades, up by 103 points.
On the global front, the Asian shares are trading on negative note. The Hang Seng market is down by 280 points and the Nikkei has lost 202 points. Taiwan, Shanghai and KOSPI are all in negatives too.
Buzzers: Tata Motors opened lower by 3.6% today. The stock has broken a support of Rs 280 in the morning session, and has made a new low of Rs 272. We may see it dip further to the Rs 265 levels.
If the Nifty sustains below 5600, it may see some downtrade from the current levels. 5570- 5545 are major support levels.
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