Indices Trading Flat; TCS Shines
Suparna / 15 Jul 2013
The Indian markets continue to trade flat as the gains in TCS and Bharti Airtel have helped offset most of the losses in Tata Steel and Infosys. The Nifty is trading marginally down by 2 points at 6007 and Sensex is 5 points higher at 19964.
The Indian markets continue to trade flat as the gains in TCS and Bharti Airtel have helped offset most of the losses in Tata Steel and Infosys. However, the broader markets outperformed the benchmark indices in the afternoon session. The rupee was down 49 paise to 60.05. The 50-share Nifty index is trading with a marginal loss of 2 points at 6007 and Sensex is in gains of 5 points at 19964.
The advance-decline ratio is in positives this afternoon. On the NSE, 686 shares are trading in green and 462 shares are trading in red.
Top 5 Nifty Gainers: Cairn India is the top gainer so far, up by 2.81%. Lupin, HCL Technologies, Bank of Baroda and Dr Reddy’s Labs are among the others trading higher.
Top 5 Nifty Losers: Tata Steel is down by 3.14%, followed by Infosys, NTPC, Coal India and HDFC Bank.
Most of the sectoral indices are also trading in positives. Healthcare is the top gainer, up by 0.8%, followed by Consumer Durables, FMCG and Capital Goods. The Metals index is the strongest loser, followed by Bankex and Power.
In the Asian markets, Shanghai Composite is trading with gains of 0.69%, and KOSPI, Nikkei 225 and Straits Times are also in the green. The Hang Seng, though, is lower by 0.25%.
Buzzers: Pipavav Defence and Offshore Engineering Company is 2.58% up at Rs 67.55, extending its previous day’s gains of 4.2%. This was after the Ministry of Defence has lifted the hold on the Mazagon Dock-Pipavav Defence joint venture to build warships for the Indian Navy.
The stock of HCL Technologies has hit a fresh 52-week high on the NSE. The stock opened at Rs 860.50 and is trading with gains of 2.21% at Rs 881.
The Nifty will meet with a stiff resistance around 6026. Once it clears this level, the index may head to the levels of 6050-6070.
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