Markets Trading Flat

The Indian markets witnessed a massive recovery in the morning session today but later witnessed some profit booking at the higher level. Trading has been directionless. The GDP data will be announced after closing bell today. The Nifty is currently up by 3 points at 5410 and Sensex has gained 38 points to trade at 10438. Both the indices were seen trading on a flat note, up by 0.03%.

On the NSE, the advance-decline ratio is balanced on both sides, with 1635 advances and 1675 declines.

Top 5 Nifty Gainers: Cipla is leading the gainers list so far, up by 3.9%. Bank of Baroda, Bajaj Auto, TCS and Sun Pharma are among the others trading higher.

Top 5 Nifty Losers: Jindal Steel is leading the losers list so far, down by 10.5%, followed by Hindalco, Ranbaxy Labs, Sesa Goa and IDFC.

Some of the sectoral indices have lost their gains in mid-session trades. 6 out of 13 sectors are currently in the red. Metals is the strongest loser, trading down by 238 points, Oil & Gas has dipped by 117 points and Auto has lost 79 points. Mid-Caps and Small-Caps have also turned into the negative, and are lower by 21 points and 3 points respectively.

The Asian market continued to trade on a mixed scenario. Taiwan Weighted is up by 104 points and Hang Seng has gained 26 points. Straits Times and KOSPI are both trading on a positive note. The Nikkei market, though, was down by 70 points.

Buzzer: Jindal Steel opened on a positive note, but crashed after announcement of the buyback price which was lower than expectations. If the stock closes below the technical level of Rs 220, it may see more of a downmove in further trading sessions.

Nifty Futures is seeing volatile trades, and the closing level will decide further moves.