Indices Remain Bearish
Suparna / 14 Jan 2014
The Indian markets witnessed flattish trade with a negative bias in the morning-session today. On the current scenario the Nifty is down by 30 points to trade at 6243 and the Sensex dropped by 90 points to 21044.
The Indian markets witnessed flattish trade with a negative bias in the morning-session today. On the current scenario the Nifty is down by 30 points to trade at 6243 and the Sensex dropped by 90 points to 21044.
On the NSE, the advance-decline ratio is still on the negative side with 1346 advances and 1727 declines.
Top Nifty Gainers: Cairn India is leading the gainer lists so far and is up by 2.05%. It is followed by IndusInd Bank, HDFC, Dr Reddys Labs and Cipla.
Top Nifty Losers: Jindal Steel is leading the losers list so far and is down by 2.98%. It is followed by Tata Steel, Ranbaxy Labs, DLF and NMDC.
Most of the sectoral indices are trading in red in the mid-session. Metal index is the top loser, trading lower by110 points. It is followed by IT and Bankex indices, which were down by 69 points and 51 points respectively. Mid-caps and small-caps showed some strength and are trading with nominal gains.
The Asian market continued to trade negative. The Nikkei is down by 498 points. It is followed by Hang Seng which is down by 97 points. The Straits Times and KOSPI were trading with nominal loss.
Buzzer: Metal Stocks are witnessing heavy sell off, Jindal Steel & Power (down 2.73%), Tata Steel(down 2.53%), Bhushan Steel (down 0.69%), NMDC (down 0.6%), SAIL (down 0.52%), JSW Steel (down 0.49%) and Sesa Sterlite (down 0.46%).
Nifty Futures trade around 6260 level. If it sustain at current level we may see some upward movement.
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