Market Trims Initial Losses, SBI In Focus
Suparna / 04 Feb 2014
Markets recovered from early deficit in the noon-trade, leading on the gains from Banks and FMCG. Nifty went up by 5 points at 6009 and Sensex is 6 point higher at 20213. State Bank of India stood on the gaining side after the company informed of raising Rs 8031.64 crore from QIP.
Equity benchmarks are marginally under pressure in noon trade. The Nifty is trading up by 5 points at 6009 and Sensex is 6 points higher at 20213. The indices are trading marginal positive in range of 0.3%.
The advance-decline ratio is negative. On the NSE, 1451 shares are in the green and 1733 shares are in red.
Top 5 Nifty Gainers: Tata Motors is leading the gainers list so far, up by 2.62%. Bharti Airtel, Cairn India, NTPC and Bank of Baroda are also in gains.
Top 5 Nifty Losers: M&M is down by 3.73%, followed by HCL Tech, BHEL, GAIL and TCS.
On sectoral front, 10 out of the 13 sectors are trading in the green zone. Bankex was the top gainer, up by 82 points, FMCG were up by 49 points and Consumer Durables was 48 points higher. Mid-Caps and small cap are in the green zone and up by 36 points and 5 points respectively .
The Asian markets have all been in negatives since morning today. Hang Seng is the top loser so far, down by 637 points and Nikkei is down by 610 points. Straits Times and Taiwan also remained in the red.
Buzzer: State Bank of India, stock gained 1.94% to Rs 1519.65 after the company informed of raising Rs 8031.64 crore from Qualified Institutional Buyers(QIP).
Nifty futures have been able to sustain above 5960 in today’s session. The markets are hoping for some recovery from the current 6035 levels.
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