Early Gains Pared On Profit Booking
Suparna / 26 Aug 2013
The Indian markets witnessed some profit booking on higher levels, which has resulted in paring of gains seen earlier in the morning. Volatility is seen to be persistent in a wide range in the mid-session of the market. The Nifty is trading higher by 2 points at 5473 and the Sensex is up by 33 points at 18550.
The Indian markets witnessed some profit booking on higher levels, which has resulted in paring of gains seen earlier in the morning. Volatility is seen to be persistent in a wide range in the mid-session of the market. The Nifty is trading higher by 2 points at 5473 and the Sensex is up by 33 points at 18550. The extent of gains on the indices is in the range of 0.04%-0.18%.
The advance-decline ratio is on the positive side. On the NSE, 1694 shares are in the green and 1596 shares are in the red.
Top Nifty Gainers: Sesa Goa is leading the gainer list so far and is up by 5.23%. It is followed by Ranbaxy, Hindalco, Ambuja Cement and NTPC.
Top Nifty Losers: IDFC is leading the losers list so far as it is trading down by 8%. It is followed by Gail, Axis Bank, ICICI Bank and ONGC.
On the sectoral front, 8 out of 13 sectors are trading in the green. The Metals sector was the top gainer and was seen to be trading higher by 126 points. It was followed by the sectors of IT and Heath Care, which were up by 96 points and 81 points respectively. Mid-caps and small-caps were up by 25 points and 40 points respectively. However, Bankex and Oil & Gas saw losing more strength than seen in the morning session. These indices were trading down by 124 points and 120 points respectively.
The trend on the Asian markets is the same since morning. The Hang Seng is up by 141 points. The Straits Times and The KOSPI were trading on a positive note as well. However, the Nikkei moved further down since morning and was seen trading lower by 24 points.
Buzzer: IDFC has crashed after the Reserve Bank of India on Friday decreased the limit that foreign investors can own in the infrastructure lender. The scrip did not manage to hold its technical support level of Rs 100 and made a new 52-week low at Rs 94 per share.
The Nifty Futures have been volatile. The major support for it lies at a level of around 5450-5430. If it doesn’t manage to sustain the above level, we may see a closing of close to 5400.
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