Indices Move Sideways
Suparna / 17 Sep 2013
After a flattish opening, the Indian indices traded in a range with low volumes in mid-session. The Nifty is trading down by 16 points at 5824 and Sensex is 29 points lower at 19713. The Asian markets have also continued their negative trades.
After a flattish opening, the Indian indices traded in a range with low volumes in mid-session. The Nifty is trading down by 16 points at 5824 and Sensex is 29 points lower at 19713. Both the indices are trading lower in the range of 0.15%-0.25%.
The advance-decline ratio is negative on the NSE, with 1470 advances and 1854 declines.
Top 5 Nifty Gainers: Dr Reddys Labs is leading the gainers list so far, up by 3.9%. UltraTech Cement, HCL Tech, Ranbaxy Labs and Maruti Suzuki are the others trading higher.
Top 5 Nifty Losers: Sun Pharma is currently trading down by 3.7%, followed by IndusInd Bank, Bank of Baroda, Axis Bank and ONGC.
8 out of the 13 sectoral indices are still in negatives. Bankex is seeing the most of the losses, down 121 points. The Capital Goods index is down by 77 points, Consumer Durables has lost 51 points and Health Care is 40 points lower. Mid-Caps and Small-Caps are also in negatives, down by 27 points and 17 points respectively.
The Asian markets have also continued their momentum in the red. The Nikkei is down by 93 points and Hang Seng has moved 71 points lower. Shanghai Composite and KOSPI too are trading in the negative territory.
Buzzer: Sun Pharma has received final approval from the US FDA for its new generic version of Prevacid. However, the stock is showing some weakness in the current session, down by 3.6%. If it trades below today’s low of Rs 541.25, the stock price may dip further.
Nifty Futures is trading in a small range. If the index breaks the 5880 level, it may touch 5900 on a closing basis.
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