Indices Open Weak, Nifty Below 5900
Suparna / 29 Jul 2013
The Indian markets opened flat with a negative bias in the morning session. The Nifty opened lower by 13 points at 5872 and Sensex was down 82 points at 19671. HUL is the top loser so far, down by 5.1%. On the global front, the Asian shares are also trading in the red.
The Indian markets opened flat with a negative bias in the morning session. The Nifty opened lower by 13 points at 5872 and Sensex was down 82 points at 19671. Both indices opened down in the range of 0.41%-0.39%.
The advance-decline ratio is on the negative side this morning. On the NSE, 1363 shares are trading in gains and 1932 shares are down.
Top 5 Nifty Gainers: Jindal Steel is the highest gainer so far, up by 2.4%, followed by Bharti Airtel, Tata Steel, Tata Motor and Sun Pharma.
Top 5 Nifty Losers: HUL is the top loser for the morning session, down by 5.1%. JP Associates, Ambuja Cements, PNB and ITC are among the others trading lower.
10 out of the 13 sectors are trading in the red zone. FMCG is currently the strongest loser, dipping by 182 points, Bankex has lost 58 points and Capital Goods are down 50 points. Mid-Caps and Small-Caps are both lower by 45 points. On the other hand, IT and Auto are trading in the positive zone, up by 67 points and 35 points respectively.
On the global front, the Asian shares are trading in the red. The Nikkei market is down by 344 points and Hang Seng has lost 122 points. Taiwan Weighted and Shanghai Composite are also in negatives.
Buzzer: HUL has opened lower by 5.1% and made a low of Rs 625.10. Its broke its psychological level of Rs 650 at opening. If it sustains below this level, the scrip may drop some more in the next few trading sessions.
The Nifty remains below the 5900 mark. Going ahead, it may see some strength only if it moves above the 5920 level.
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