Indices Dip Into The Red
Suparna / 12 Nov 2013
The markets came under selling pressure again in mid-session, with Metals and Auto stocks being the hardest hit. The Nifty is down by 16 points at 6061 and Sensex is 74 points lower at 20415.
After seeing some positives earlier in the morning, the markets went right back under selling pressure in mid-session. Metals and Auto took most of the beating. The indices are trading in the red zone, with the Nifty down by 16 points at 6061 and Sensex 74 points lower at 20415. The indices have dropped in the range of 0.32%-0.35%.
The advance-decline ratio is on the negative side at this hour. On the NSE, 1534 shares are in the green and 1676 shares are trading in the red.
Top 5 Nifty Gainers: Ranbaxy Labs is leading the gainers list, trading up by 2.3%. Other stocks trading higher include Hindalco, Kotak Mahindra Bank, Cairn India and Maruti Suzuki.
Top 5 Nifty Losers: Tata Motors is down by 3.5% so far, followed by Sesa Sterlite, ACC, Tata Steel and NMDC.
The sectoral indices have moved into the negative zone. Metals and Auto are both down by 120 points, Oil & Gas has lost 47 points and Bankex is trading lower by 12 points. Capital Goods and Consumer Durables are also down by 10 points. FMCG and Healthcare are the only sectors currently trading in the green, up by 50 points each.
The Asian markets remained in positives in mid-session as well. Nikkei has moved up by 320 points. Shanghai Composite and KOSPI are also nominally higher. The Hang Seng has moved down by 168 points.
Buzzer: Tata Motors has lost around 3.6% and made an intraday low of Rs 364. The stock is trading below its major support of Rs 370. If the stock closes below this level, it may continue with the downward momentum.
Nifty Futures has been moving as we had expected it to. The index may drop further if it trades below 6190.
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