A Weak Start To The Week

Suparna / 30 Sep 2013

A Weak Start To The Week

After a negative opening today, the Nifty is currently down by 63 points at 57690 and Sensex is 208 points lower at 19518. The global scenario is also looking weak at the moment.

The Indian markets opened somewhat negative today. Currently, the Nifty is down by 63 points at 57690 and Sensex is 208 points lower at 19518. Both the indices are trading down in the range of 1.09-1.06%. The global scenario is also looking weak today.

The advance-decline ratio is in the negatives. On the NSE, 1476 shares are trading in gains and 1862 shares are down.

Top 5 Nifty Gainers: BPCL is the top gainer so far, up by 2.01%. HCL Tech, Lupin, HUL and Infosys are among the other stocks trading higher.

Top 5 Nifty Losers: Tata Steel is trading down by 3.86%, followed by NMDC, BHEL, Bharti Airtel and JP Associates.

Most of the sectoral indices are trading lower too. Bankex is the strongest loser, down by 237 points. Capital Goods and Auto have also dropped by 140 points each, followed by the Metals index trading down by 130 points. Mid-Caps and Small-Caps are 29 points and 18 points lower. The IT index is showing some strength, having gained 61 points so far.

The Asian markets are also trading lower in today’s session. The Hang Seng has dipped by 295 points and Nikkei is down 198 points. The KOSPI and Taiwan markets are also seeing some negative moves.

Buzzers: HCL Tech has moved up by more than 1.3% this morning. The stock is trading near its major hurdle of Rs 1100. If its crosses and sustains above this level, it may see more of an up-move.

Nifty Futures is holding the 5800 level. If it breaks this level, it may move lower to 5770.

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