Global Markets Weak, Nifty Below 5800 Mark
DSIJ Intelligence / 03 Jul 2013
Since the last two trading session, the Indian markets have seen a gap-down opening. Today, the markets were weighed down by global cues, opening lower by approximately 1.25%.
Since the last two trading session, the Indian markets have seen a gap-down opening. Today, the markets were weighed down by global cues. The Nifty opened with a negative bias of 70 points at 5784 and the Sensex was down by 234 points at 19226. Both the indices opened lower in the range of 1.22%-1.26%.
The advance-decline ratio has been negative on the NSE with 1346 shares gaining and 1964 shares trading lower.
Top 5 Nifty Gainers: Lupin is the top gainer for today’s session. It is trading higher by 2.1%, followed by Ranbaxy, HCL Tech, Sun Pharma and GAIL.
Top 5 Nifty Losers: JP Associates is the top loser this morning, trading down by 6.7%, followed by Bank of Baroda, IDFC, Hindalco and PNB.
On the sectoral front, 11 out of the 13 sectors are trading in the red zone. Bankex is the top loser and is down by 273 points. Metals and Capital Goods are down by 266 points and 214 points respectively. Mid-caps and small-caps are negative as well, with losses of more than 50 points in each.
On the global front, Asian shares are trading lower, weighed down by the negative sentiment caused by weak Chinese data. The Hang Seng is the top loser in Asian markets and is down by 339 points. Nikkei 225 is down 
by 43 points. Taiwan and Kospi too are trading with a negative bias.
Buzzers: JP Associates opened down by 7.8%. The stock made new low of Rs 52.30 per share. It has broken its support level of Rs 55 this morning. If it goes further below its intraday low, one can expect it to tank to Rs 48.50 per share.
The Nifty has broken its major support level of 5790. If the index remains below this level, we may see it touching a level of 5750.
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