Indices Witness Sideways Moves
Suparna / 07 Nov 2013
The Indian markets saw directionless momentum in today’s opening session. While IT is providing good support to the indices, Bankex continues to trade on the lower side. Currently, the Nifty is up by 4 points at 6219 and Sensex has gained 19 points to trade at 20914.
The Indian markets saw directionless momentum in today’s opening session. While IT is providing good support to the indices, Bankex continues to trade on the lower side. Currently, the Nifty is up by 4 points at 6219 and Sensex has gained 19 points to trade at 20914.
The advance-decline ratio is in the green at this hour. On the NSE, 1676 shares are trading in gains and 1512 shares are down.
Top 5 Nifty Gainers: Tata Steel is the top gainer so far, up by 2.4%, followed by Hindalco, Sesa Sterlite, HCL Tech and TCS.
Top 5 Nifty Losers: BHEL has dipped by 4.31%. Bank of Baroda, BPCL, IndusInd Bank and PNB are among the other stocks trading lower.
The sectoral indices are trading on a mixed note. Metals and IT have both surged by over by 100 points. Mid-Caps and Small-Caps were higher in the range of 20 points. However, Bankex and Consumer Durables were down by 100 points each. Capitals Goods also saw selling pressure and was down by 50 points.
The Asian markets are in negatives this morning. The Hang Seng index is the top loser, down by 141 points, and Nikkei is 108 points lower. KOSPI and Shanghai Composite are also seeing nominal losses.
Buzzer: Tata Steel is trading with gains of 3.6% in today’s opening session. The scrip has made an intraday high of Rs 346 so far, and could move higher by closing if it continues above this level.
Nifty Futures is trading around the crucial support level of 6250. If the index sustains at the current level, it may see some positive moves ahead.
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