Markets Drop After Positive Opening
Suparna / 01 Aug 2013
The higher opening was after the indices witnessed heavy selling over the last few days. However, the market could not sustain its high, following basket selling by FIIs. The Nifty is currently down by 14 points at 5725 and Sensex is 10 points lower at 19330.
The Indian markets opened higher today after witnessing heavy selling over the last few days. The global scenario was also looking positive. However, the Indian market could not sustain its high, following basket selling by FIIs. As a result, the Nifty is currently down by 14 points at 5725 and Sensex is 10 points lower at 19330. Both indices opened down in the range of 0.39%-0.16%.
The advance-decline ratio is negative in the morning session. On the NSE, 1461 shares are trading in gains and 1864 shares are down.
Top 5 Nifty Gainers: HUL is the top gainer for the morning session, up by 2.2%, followed by HDFC, HDFC Bank, Sun Pharma and Cairn India.
Top 5 Nifty Losers: JP Associates is the strongest loser so far, down by 11.2%. IDFC, DLF, Ranbaxy Labs and PNB are among the others trading lower.
All the sectoral indices are in negatives. Oil & Gas was down by a whopping 233 points in the morning session. Metals, Banks, Capital Goods and Consumer Durables all dropped more than 120 points. Mid-Caps and Small-Caps were down by 110 points and 55 points respectively.
The Asian shares, on the other hand, are in the green. The Nikkei market is the highest gainer for the morning session, up 337 points. Hang Seng is up 132 points and Shanghai Composite is 25 points higher.
Buzzers: DLF has crashed by 7.8%. The scrip has broken all the vital supports and made a new 52-week low at Rs 137.25.
The Nifty has broken a major support at the 5750 level in the opening session. If it sustains below this level, it may move to 5700.
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