Sensex Below 20500, HCL Tech Drops 6.7%
Suparna / 17 Oct 2013
The Indian markets saw a deep cut in mid-session today. The IT, Auto and Capital Goods counters dragged the indices lower. Nifty is down by 33 points at 6055 and Sensex has moved down by 93 points to 20450.
The Indian markets saw a deep cut in mid-session today. IT, Auto and Capital Goods witnessed selling pressure, and the counters in these sectors dragged the indices. Nifty is down by 33 points at 6055 and Sensex has moved down by 93 points to 20450. The indices are trading lower between 0.46%-0.55%.
The advance-decline ratio is in the same range in mid-session. On the NSE, 1551 shares are in the green and 1525 shares are in red.
Top 5 Nifty Gainers: JP Associates is leading the gainers list so far, up by 6.8%. Other stocks trading higher include ONGC, Bajaj Auto, Bharti Airtel and ITC.
Top 5 Nifty Losers: HCL Tech is leading the losers list, dipping by 6.7%, followed by TCS, Tata Motors, IndusInd Bank and L&T.
Most of the sectoral indices have moved into the negatives. IT has fallen by 307 points, Capital Goods has lost 177 points, Auto is down 145 points and Bankex has also dipped by more than 100 points. Oil & Gas and FMCG are in the green, up by 107 points and 88 points. The Mid-Cap and Small-Cap indices have moved nominally into the positives.
The Asian markets are trading with a mixed sentiment. Nikkei and Taiwan are trading higher by 119 points and 42 points respectively, while the Hang Seng market is down 133 points.
Buzzer: HCL Tech has lost around 6.7% so far in the day despite having announced good Q2 numbers. The stock is trading below its major support of Rs 1100, and may continue with the current trend if it closes below this level.
Nifty Futures is trading around a crucial support level of 6070, and if it closes below this level, it may move to 6040.
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