Indices Flattish Ahead Of Expiry

In line with what was expected the Indian markets witnessed a flattish opening this morning. Today is the expiry of the October futures contact. As a Result, the market may remain volatile throughout the day. At the current level, the Nifty is down by 5 points at 6246 and the Sensex up by 7 points at 21041. Both indices are trading mixed in a range of -0.01% to 0.11%.

The advance-decline ratio is in the green zone so far. On the NSE, 1687 shares are trading positive and 1465 shares are down.

Top 5 Nifty Gainers: Sesa Sterlite is the top gainer so far, up by 1.64%, followed by BPCL, Tata Motors, Wipro and Bharti Airtel.

Top 5 Nifty Losers: Ambuja Cement is the top loser so far, down by 1.3%, followed by ACC, M&M, Grasim and GAIL.

All the sectoral indices are trading in the green so far. The Bankex has moved up by 176 points, followed by the Auto and the Metals Index which are up by 163 points and 113 points respectively.  Oil & Gas and Capital Goods are also showing strength (up by 102 points and 95 points respectively). Mid-Caps and Small Caps up by more than 35 points each.

However, the negative sentiment seen in the Asian markets in morning session continues through and through. The Hang Seng is the worst performer so far, down by 92 points, followed by Nikkei which is down by 26 points. The KOSPI and Shanghai Composite are also showing weakness though only marginal.

Buzzers: Tata Motors one of the biggest auto stock has surged more than 1.5% and is trading at an intraday high at Rs 386. If it sustains around these levels, it may cross it’s major hurdle, which is Rs 390. 

Nifty Futures are trading around 6250 levels. A major resistance level for today’s session will be at 6280  for the Nifty.