Nifty 50 Points Down, Markets Await IIP Data
Suparna / 12 Sep 2013
The Indian markets have continued to trade weaker since opening trades. The Nifty is down by 51 points at 5861 and Sensex has dipped 182 points to trade at 19815. Tata Power has moved to the top of the gainers list, up by 5.5% at this hour.
The Indian markets have continued to trade weaker since opening trades. The Nifty is down by 51 points at 5861 and Sensex has dipped 182 points to trade at 19815. Both the indicators are down in the range of 0.88%-0.91%.
The advance-decline ratio is still positive. On the NSE, 1743 shares are in the green and 1565 shares are in red.
Top 5 Nifty Gainers: Tata Power is leading the gainers list so far, up by 5.5%, followed by IDFC, Ranbaxy Labs, NTPC and GAIL.
Top 5 Nifty Losers: JP Associates is down by 7.14%. Hero MotoCorp, Ambuja Cements, ONGC and IndusInd Bank are trading in negatives.
Most of the sectoral indices showed a negative bias in the mid-market session. Bankex was the top loser, down by 153 points, Metals lost 126 points and IT was 122 points lower. Mid-Caps and Small-Caps, on the other hand, continued to trade higher, up by 24 points and 39 points respectively.
Of the peer Asian markets, Hang Seng saw some positive moves to rise by 16 points. Straits Times and KOSPI also continue to trade in the green. The Nikkei index is still down by 37 points.
Buzzer: Tata Power has seen some good up-move today. The company has announced some expansion and acquisition plans. The stock made a new intraday high at Rs 79.10, and if it closes above Rs 80, it may see more up-moves in the next few days.
Nifty Futures has taken major support at 5860-5850. If it breaks these levels, it may close around the 5825 mark.
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