Markets React Negatively To RBI Measures, Bankex Down 3.4%
Suparna / 24 Jul 2013
The Indian markets opened on a negative note in the morning session after the RBI announced measures to control the rupee fall. As a result, the Nifty opened with a negative bias of 53 points at 6024 and Sensex was 100 points lower at 20,201
The Indian markets opened on a negative note in the morning session after the RBI announced measures to control the rupee fall. As a result, the Nifty opened with a negative bias of 53 points at 6024 and Sensex was 100 points lower at 20,201. Both indices opened down in the range of 0.80%-0.46%.
The advance-decline ratio is negative in the morning session. On the NSE, 1403 shares are trading in gains and 1890 shares are down.
Top 5 Nifty Gainers: TCS is the top gainer for the morning session, up by 1.9%, followed by Sun Pharma, Lupin, Bharti Airtel and Dr Reddy’s Labs.
Top 5 Nifty Losers: IndusInd Bank the top loser so far, down by 8.2%. Among the other top losers are IDFC, Axis Bank, JP Associates and Kotak Mahindra Bank.
10 out of the 13 sectors are trading in the red zone. Bankex was the top loser trading in the morning session, down by a whopping 555 points. Capital Goods and Auto have lost 199 points and 182 points respectively. Metals were also in the negatives, down by 158 points. Mid-Caps and Small-Caps are down 60 points each.
The Asian shares are currently trading in the red. The Nikkei market is the top loser for today’s morning session, down by 36 points, Hang Seng has lost 27 points and Shanghai Composite is 22 points lower.
Buzzers: Wockhardt has plunged 16% to register a new 52-week low at Rs 685. The stock broke its major support level of Rs 750 and could move lower if it breaks further levels.
The Nifty has broken a major support at the 6020 level in the opening session. If it sustains below this level, it may move to 5970.
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