Indices Flat, May See Volatility Ahead
Suparna / 20 Sep 2013
The frontline indices witnessed a flat opening today. The markets are waiting with bated breath for the regulatory policy announcement. The Nifty is down by 10 points at 6104 and Sensex is 53 points lower at 20590. Ranbaxy is trading over 5% lower.
The Indian indices witnessed a flat opening today. The markets are waiting with bated breath for the regulatory policy announcement. The Nifty is down by 10 points at 6104 and Sensex is 53 points lower at 20590. Both indices opened in the range of 0.18-0.27%.
The advance-decline ratio is the negative side at morning session today. On the NSE, 1592 shares are trading in gains and 1705 shares are down.
Top 5 Nifty Gainers: HCL Tech is the top gainer for the morning session, up by 2.8%, followed by UltraTech Cement, Lupin, BHEL and GAIL.
Top 5 Nifty Losers: Ranbaxy Labs is has dipped 4.7% so far, followed by JP Associates, IDFC, Hero MotoCorp and Bajaj Auto.
7 out of 13 sectors are trading in the red in the opening session. The Auto index is down by 73 points, Capital Goods has dipped 62 points, Metals has lost 50 points and Bankex is down by 38 points. On the other hand, Mid-Caps and Small-Caps traded with a positive bias, up by 6 points and 10 points respectively.
In Asia, the Nikkei market is down by 23 points, while Hang Seng, Taiwan Weighted and Shanghai Composite are closed for today.
Buzzer: Ranbaxy is trading over 5% lower in the morning trading session. The stock has broken its major technical level of Rs 335. If it sustains below this level, it may see more of a down-move.
Nifty Futures has support at 6080-6050. If it drops below these levels, it may dip further.
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