Day’s Trades Open Negative
Suparna / 03 Jan 2014
The Indian markets opened on a negative note today. Nifty began lower by 28 points at 6193 and Sensex was down by 86 points at 20801. The global markets are also in the red zone, with the Hang Seng hammered by as much as 500 points.
After a strong opening and a plunge at the end of trades yesterday, the Indian markets opened on a negative note today. Nifty began lower by 28 points at 6193 and Sensex was down by 86 points at 20801. Both indices opened down in the range of 0.42%-0.45%. The global markets are also in the red zone.
The advance-decline ratio is on the negative side in the morning session. On the NSE, 1324 shares are trading in gains and 1403 shares are down.
Top 5 Nifty Gainers: TCS is the top NSE gainer so far, up by 1.8%, followed by Hero MotoCorp, Infosys, DLF and Maruti Suzuki.
Top 5 Nifty Losers: Tata Power is the top loser this morning, down by 3.8%. Among the other stocks trading lower are Tata Motors, M&M, BHEL and BPCL.
8 out of the 13 sectoral indices are trading in the red zone. Both Capital Goods and Metal are down by around 120 points, and Oil & Gas and Bankex have lost 70 points each. FMCG, Healthcare and Mid-Caps are also in negatives. However, IT and Consumer Durables are up by 121 points and 16 points respectively.
On the global front, the Asian shares are trading in the red. Hang Seng is down by around 500 points and Straits Times and Taiwan Weighted are in negatives. The Nikkei market, on the other hand, is up by 112 points so far.
Buzzer: The stock of Infosys has opened in some positives. The stock has broken a stiff resistance at the Rs 3500 level in the morning session, and hit a high at Rs 3531. If it manages to break this level on a closing basis, it may see more of an up-move to Rs 3600 in trades ahead.
Nifty Futures is trading around the major support level of 6220. If the index drops below the 6200 mark, it may see more panic selling.
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