Indices Open Lower, JP Associates Crashes 7%
Suparna / 12 Sep 2013
The Indian markets opened negative today, with Bankex and Auto witnessing most of the selling in the morning trades. Nifty is currently down by 34 points at 5878 and Sensex is 113 points lower at 19883. IDFC is the top gainer so far, up by 6.4%.
The Indian markets opened on a negative note today, with the Bankex and Auto indices witnessing most of the selling in the morning trades. Nifty is currently trading negative by 34 points at 5878 and Sensex is 113 points lower at 19883. Both the indices are down in the range of 0.59%-0.70%.
The advance-decline ratio, however, remains on the positive side. On the NSE, 1874 shares are trading in gains and 1485 shares are down.
Top 5 Nifty Gainers: IDFC is the top gainer so far, up by 6.4%. Tata Power, Ranbaxy Labs, GAIL and Cipla are among the other stocks trading higher.
Top 5 Nifty Losers: JP Associates is sharply down by 7.1% this morning, followed by IndusInd Bank, Hero MotoCorp, Grasim and Ambuja Cements.
7 out of the 13 sectors are trading in the red. Bankex is the top loser in the morning session, down by 154 points. Auto and IT are down by 100 points each, while Metals is also showing some weakness, down by 58 points. Mid-Caps and Small-Caps are also in positives, both up by 40 points. Health Care has also gained 87 points.
In the Asian markets, the Hang Seng index is up by 103 points so far in the day, while Taiwan Weighted and Shanghai Composite are also seeing nominal gains. Nikkei is on the losing side, down by 54 points.
Buzzer: JP Associates opened the trading day down by 2.5%. The stock made a new low at Rs 39.80. If it breaks this level, we could see it move lower to Rs 36 in further trading sessions.
Nifty Futures has a major support at 5880-5850. If it drops below this level, more downtrades may be seen.
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