Nifty Drops Below 6200
Suparna / 04 Dec 2013
Tracking weakness in Asia, the Indian markets have tanked this morning. Nifty is down by 17 points at 6184 and Sensex is 60 points lower at 20795. The rupee also dipped by 8 paise in early trades to 62.43 per dollar. Among the sectoral indices, Bankex, Capital Goods and FMCG are in losses, while the IT index is showing some strength.
The Indian markets opened with a negative sentiment, tracking weakness in Asia. The indices tanked, with Nifty down by 17 points at 6184 and Sensex 60 points lower at 20795. The rupee also dipped by 8 paise in early trades to 62.43 per dollar as against the previous day's closing of 62.35 per dollar.
The advance-decline ratio is flat-negative this morning. On the NSE, 1634 shares are trading in gains and 1616 shares are down.
Top Nifty Gainers: Sesa Sterlite is the top gainer for today’s morning session, up by 1.71%. Others trading higher include Tata Power, Bharti Airtel, Jindal Steel and Tata Steel.
Top Nifty Losers: ICICI Bank is down by 1.76% at this hour, followed by BPCL, Larsen & Toubro, Sun Pharma and HUL.
7 out of the 13 sectors are trading in the red. Bankex is the top loser, having lost 71 points. Capital Goods are down by 70 points and FMCG is 20 points lower. Mid-Caps and Small-Caps are trading in positives, up by 5 points and 23 points respectively. The IT index is showing some strength, trading higher by 21 points.
The Asian markets are witnessing a similarly negative sentiment. Nikkei is down by 263 points and Hang Seng has lost 83 points so far. KOSPI and Straits Times are also trading on a somewhat negative note.
Buzzer: Sesa Sterlite has moved up by 2% on the bourses today after news of a block deal. The stock has made a high of Rs 186 so far.
Nifty has broken its major resistance around the 6250-6270 level and is now trading around 6238. If the index moves below this level, it may see more of a downfall.
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