Market Dives Ahead Of Expiry
Suparna / 30 Jan 2014
The BSE Sensex plunged as much as 220 points in trade on Thursday morning tracking selloff in other Asian markets, after US Federal Reserve announced plans to scale back its bond purchases by another USD10 billion to USD 65 billion a month.
The Indian markets opened with a negative sentiment after US Federal Reserve announced another cut in its monthly bond purchases. Market likely to be Volatility as January F&O expires today. Nifty is currently trading with a negative bias of 68 points at 6052 and Sensex is down 220 points at 20425. Both indices opened lower in the range of 1.06%-1.14%.
The advance-decline ratio is on the negative side in the morning session. On the NSE, 1179 shares are trading in gains and 2000 shares are down.
Top 5 Nifty Gainers: Bharti Airtel is the top gainer for today’s morning session, up by 1.52%, followed by GAIL, Tata Motors, ONGC and Power Grid Corp.
Top 5 Nifty Losers: Sesa Sterlite is down by 3.18% as of now. BPCL, Hindalco, Asian Paints and PNB are also trading lower.
On sectoral front, all the sectoral indices are trading in the red zone. Bankex was the top loser, down by 220 points, followed by Metals, down by 181 points, and FMCG, which have lost 122 points. Mid-Caps and Small-Caps are both are in red and down by 94 points and 74 points respectively.
The Asian shares are reflecting a negative sentiment. The Nikkei market is the top loser this morning, down by 417 points. Hang Seng has also dipped by 106 points. Taiwan Weighted and Straits Times are also down.
Buzzer: Crompton Greaves, stock opened at Rs 103 and surged 6% to Rs109 after the company reported consolidated net profit of Rs 62.02 crore in Q3 December 2013 as compared to net loss of Rs 189.36 crore in Q3 December 2012.
The Nifty is trading at the 6055 level, 6050 will be a major support for further trading sessions.
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