Bears Remain On The Upper Hand
Suparna / 28 Aug 2013
The Indian markets have been opening on a negative note since the last couple of days and this trend was seen today as well. The global scenario has been clearly taking a massive toll on the domestic index. The Nifty tanked by 119 points to 5168 and the Sensex by 343 points to 17638.
The Indian markets have been opening on a negative note since the last couple of days and this trend was seen today as well. The global scenario has been clearly taking a massive toll on the domestic index. The Nifty tanked by 119 points to 5168 and the Sensex by 343 points to 17638. Both the indices opened down in the range of 1.80-2.14%.
The advance-decline ratio has been negative in the morning session today. On the NSE, 1165 shares are trading positively and 2156 shares are trading negatively.
Top Nifty Gainers: Cairn India is the top gainer for today’s morning session and is up by 4.7%. It is followed by TCS, NMDC, Infosys and HCL Tech.
Top Nifty Losers: BPCL is the top loser for today’s morning session and is trading lower by 9.2%. It is followed by Axis Bank, ONGC, Asian paints and HDFC.
On the sectoral front, 12 out of the 13 sectors are trading in the red. Bankex was the top loser this morning as it lost out 366 points. It was followed by Oil and Gas and Auto, which were down by 271 points and 204 points respectively. Mid-caps and small-caps also traded with a negative bias. They were lower by 122 points and 85 points respectively, this morning. Aided by the weakness in the rupee, the only sector to have gained was IT. It showed substantial strength as it appreciated by 168 points.
The selling pressure seen in domestic markets is actually common across the globe. This can be validated by looking at the current trend in Asian markets. In Asia, the Hang Seng is the top loser as it is trading lower by 310 points. It is followed by the Nikkei, which is down by 158 points. The KOSPI, Shanghai Composite and the Straits Times too are trading with a negative bias.
Buzzers: Most of the banks have touched or, are trading near their 52 week lows. The major banking names of SBI, Axis Bank, ICICI Bank, PNB, Dena Bank and Canara Bank have seen a heavy downfall lately.
Nifty futures have a made low of 5108. If we sustain above this level, we might see a small recovery from the current level, which is around 5180.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.