Trades Volatile, IT Gains 1.2%
Suparna / 31 Jul 2013
The Indian markets recovered their opening losses in the mid-market trading session, supported by the IT, Metals and Auto indices. The Nifty is trading down by 14 points at 5739, but the Sensex is 20 points higher at 19360.
The Indian markets are volatile but recovered their opening losses in the mid-market trading session. They were supported at the lower level by the IT, Metals and Auto indices. The Nifty is trading down by 14 points at 5739, but the Sensex is 20 points higher at 19360. The indices are trading in a range of -0.17%-0.17%.
The advance-decline ratio is on the negative side. On the NSE, 1190 shares are in the green and 2106 shares are in red.
Top 5 Nifty Gainers: Bharti Airtel is leading the gainers list so far, up by 6.2%. HCL Tech, Dr Reddy’s Labs, Coal India and ONGC are also in gains.
Top 5 Nifty Losers: DLF is leading the losers list so far down by 7.1%, followed by Axis Bank, NTPC, JP Associates and Power Grid.
8 of the 13 sectoral indices are in the red. Bankex was the top loser, down by 260 points. Mid-Caps and Small-Caps were down by 79 points and 89 points respectively. On the other side, IT has gained 97 points, Metals is up 60 points and Oil & Gas has gained 40 points.
All the Asian markets are trading on a negative note from morning trading session. Nikkei is the top loser so far, down by 201 points. Hang Seng has also dropped 70 points. The KOSPI and Taiwan were trading flat, negative.
Buzzer: The stock of Axis Bank has witnessed a continuous fall from the morning session. The stock dipped by 6.4% made a low of Rs 1015. It has broken a major support at Rs 1035. If the stock sustains around this level, it may drop below Rs 1000 in the next few trading sessions.
The Nifty has taken support around 5680. If it closes above 5750, it may recover further from the current levels.
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