Market Dives, Nifty Sinking Below 6,000
Suparna / 04 Feb 2014
IT was top loser trading in morning session down by 217 points. IT stocks declined on weak economic data in US. The United States of America is the biggest outsourcing market for the Indian IT firms. Global cues look unsupportive too. Sensex was down by 200 points at 20009.
The Indian stock markets started today’s trading on a negative note as the global cues look unsupportive. As a result the Indices tanked the Nifty down by 56 points at 5945 level and Sensex down by 200 points at 20009 level. The rupee also fell by 24 paise at 62.81 per dollar versus 62.57 Monday.
The advance-decline ratio is on negative side in the morning session. On the NSE, 1281 shares are trading in gains and 1901 shares are down.
Top Nifty Gainers: Tata Power is the top gainer for today’s morning session up by 1.03% followed by Ambuja Cements, UltraTech Cement, Lupin and Hero Motocorp Only.
Top Nifty Losers: HCL Tech is the top loser for today’s morning session down by 3.80% followed by Wipro, GAIL, TCS and M&M.
On the sectorial view all sector trading in red. IT was top loser trading in morning session down by 217 points. Followed by Metals and Auto which were down by 125 points and 111points. Mid-Caps and Small-Caps are trading in down by 37 points and 47 points. On the global front, the Asian shares are trading on negative sentiment. The Hang Seng market is top loser for today’s morning session down by 524 points. Followed Nikkei the down by 516 points. The KOSPI and the Straits Times trade on some negative note.
Buzzers: IT stocks, declined on weak economic data in US. Wipro (down 2.02%) , Infosys (down 1.23%), TCS (down 1.85%), and HCL Technologies (down 2.88%).
Nifty support around 5964 –5990 level and now trades around 5988. Below this level may see more down fall.
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