Nifty Trims Morning Losses, Sensex Holds 21k

During mid-session today, the markets made up for some of the losses seen in the morning trades. The maximum recovery was seen in the Mid- and Small-Caps. At present, Nifty is trading down by 26 points at 6290 and Sensex has moved 132 points lower to 21107. The indices are trading lower between 0.47%-0.64%.

The advance-decline ratio has also turned positive. On the NSE, 1645 shares are trading in green and 1560 shares are in the red.

Top 5 Nifty Gainers: PNB is leading the gainers list, up by 3.9%. Other stocks trading higher include DLF, IndusInd Bank, NMDC and Axis Bank.

Top 5 Nifty Losers: Power Grid Corp is down by 3.2% so far, followed by ITC, Sun Pharma, Sesa Sterlite and Dr Reddy’s Labs.

The sectoral indices have moved higher, with Bankex gaining 207 points and Auto up by 149 points. Metals is trading 143 points higher and Capitals Goods is up 72 points. The Mid-Cap and Small-Cap indices also have gained 72 points and 45 points respectively.

The Asian markets, though, are continuing to trade weaker. Hang-Seng has lost 134 points, followed by Taiwan Weighted, which is down by 91 points. The KOSPI index also remains in the red. The Nikkei has recovered from the negatives zone and is currently up by 23 points.

Buzzer: Increased buying has been witnessed in the PSU banks. Of these, PNB has gained around 2.9% and made an intraday high of Rs 599. The stock is trading around its major resistance of Rs 600. If it closes above this level today, it may continue with this positive momentum.

Nifty Futures is hovering around the 6330 level. If it breaks 6350, the index may see more tops in the closing session.