Markets Tank, Bank Nifty Below 10,000
Vinaya Patil / 31 Jul 2013
The Indian markets opened to witness deep dives in the morning session. Bankex, FMCG, Oil & Gas and Mid-Caps were hammered the most. The Nifty opened with a negative bias at 5707 and Sensex was down at 19,226. Both the indices opened down in the range of 0.85%-0.65%.
The Indian markets opened to witness deep dives in the morning session. Bankex, FMCG, Oil & Gas and Mid-Caps were hammered the most. The Nifty opened with a negative bias of 46 points at 5707 and Sensex was down by 121 points at 19,226. Both the indices opened down in the range of 0.85%-0.65%.
The advance-decline ratio is on the negative side in the morning session. On the NSE, 1179 shares are trading in gains and 2190 shares are down.
Top Nifty Gainers: Bharti Airtel was the top gainer for today’s morning session, up by 7.2%, followed by Dr Reddy’s Labs, Hindalco, Lupin and Coal India.
Top Nifty Losers: DLF was the top loser for today’s morning session, down by 6.5%, followed by NTPC, BPCL, JP Associates and GAIL.
On the sectoral front, 11 out of the 13 sectors are trading in the red zone. Bankex was the top loser, trading down by 292 points, followed by FMCG and Oil & Gas, which were down by 163 points and 145 points respectively. Mid-Caps and Small-Caps were both trading down by 80 points. However, IT and Tech are trading in a positive zone, up by 100 points and 81 points correspondingly.
On the global front, the Asian shares are trading with a mixed sentiment. The Nikkei market is the top loser for today’s morning session, down by 121 points. Hang Seng is trading on a flat note, up by 10 points, followed by Taiwan Weighted and Shanghai Composite, which were trading on a positive note.
Buzzers: Bharti Airtel rose by 7% after announcing its good Q1 results. The stock made a new high around Rs 348. If it breaks this level, it may see an upmove up to Rs 355.
Nifty has a major psychological support at the 5700 level. It may see some short covering around this level.
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