Sensex Opens Below 18k, Bears Still Ahead
Suparna / 20 Aug 2013
The markets have opened lower for the third consecutive day today. The Nifty index is currently down by 45 points at 5370 and Sensex has dipped 141 points to trade at 18166.
The Indian markets are shrouded by negativity. Today is the third consecutive day that the markets have opened lower. The Nifty index is currently down by 45 points at 5370 and Sensex has dipped 141 points to trade at 18166. Both indices opened down by 0.79%.
The advance-decline ratio is on the negative side this morning. On the NSE, 1412 shares are trading in gains and 1880 shares are down.
Top 5 Nifty Gainers: JP Associates is the top gainer as of now, up by 4.05%. Ranbaxy Labs, Jindal Steel, ICICI Bank and Reliance Infra are among the others trading higher.
Top 5 Nifty Losers: Sun Pharma is down by 4.4%, followed by Mahindra & Mahindra, Lupin, Asian Paints and Tata Motors.
All the sectoral indices are trading in the red zone. Auto is the top loser in the morning session, down by 210 points. Heathcare has dipped by 177 points and Consumer Durables is 164 points lower. Mid-Caps and Small-Caps are also showing a downward bias of 25 points and 6 points respectively.
The Asian shares are trading with a negative sentiment. The Hang Seng market is the top loser so far, down by 384 points and Nikkei has lost 276 points. KOSPI and Straits Times are also trading lower.
Buzzers: Hindalco has opened lower by over 3% today after Bank of America Merrill Lynch downgraded the metal producer. At the current level, the stock has sustained around its major support of Rs 95. If it beaks and drops below this level, it may move to Rs 92.
Nifty Futures has taken support around 5310-5330. Going ahead, a major hurdle will be at the 5375-5380 level.
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