Markets Open On A Flattish Note, Ranbaxy Up By 8%
Suparna / 08 Aug 2013
Since the last few days, the Indian markets have been witnessing extreme volatility. On account of a lack of major driving cues, indices seem directionless at current levels. As a result, the Nifty opened on a flat note at 5533, higher by 10 points. The Sensex was up by 29 points at 18695.
Since the last few days, the Indian markets have been witnessing extreme volatility. On account of a lack of major driving cues, indices seem directionless at current levels. As a result, the Nifty opened on a flat note at 5533, higher by 10 points. The Sensex was up by 29 points at 18695. Both indices opened higher in the range of 0.18% and 0.28%.
The advance-decline ratio was skewed towards the positive in the morning session. On the NSE, 1782 shares were trading with gains while 1564 shares were down.
Top Nifty Gainers: Ranbaxy is the top gainer so far today and it has appreciated by 8.5%. It is followed by DLF, Maruti Suzuki, HDFC and Tata Motors.
Top Nifty Losers: Sun Pharma is top loser for the morning session. It is trading down by 3.1%. It is followed by Lupin, IndusInd Bank, Cipla and ONGC.
On the sectoral front, 9 out of the 13 sectors are trading in the green. Auto has been the top gainer as it has appreciated by 143 points. It is followed by Capital Goods and Bankex, which are trading higher by 37 points and 35 points respectively. Mid-caps and small-caps are both up in the range of 40 points each. However, Healthcare and Oil & Gas were down by 123 points and 70 points respectively.
On the global front, Asian shares are trading on a mixed sentiment. Nikkei is the top loser and is trading lower by 192 points. However the Hang Seng is trading higher by 94 points followed by the Shanghai Composite and KOSPI, which are also trading on a positive note.
Buzzers: Ranbaxy has allocated a site for its greenfield manufacturing facility in Malaysia. On the back of this, the stock has been trading above its major hurdle of Rs 310 per share. Going ahead, the stock may touch Rs 325 per share if it sustains above the mentioned level.
Nifty future has consolidated in the range of 5540-5560. If it manages to cross 5580, we may see some more upward movement.
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