Indian Markets Topsy-Turvy, Cipla Lost 6.07% On Poor Q3 Results
Suparna / 13 Feb 2014
The 50 share Nifty index is down by 36 point at 6047 and the BSE is down by 105 points at 20344. The impact of key economic data which was released after market hours yesterday will be seen today. The market fluctuations will also be in tandem with interim financial budget to be presents by Finance Minster P. Chidambaram on the 17th of February.
The Indian stock market is trading with a flat to negative sentiment tracking weak on global cues and emerging markets. The Nifty is currently trading with a negative bias of 36 points at 6047 and Sensex is down 105 points at 20344. Both indices opened lower in the range of 0.59% - 0.51%.
The advance-decline ratio is on the negative side in the morning session. On the NSE, 998 shares are trading in gains and 1406 shares are down.
Top 5 Nifty Gainers: M&M is the top gainer for today’s morning session, up by 1.17%, followed by Tata Motors, Sun Pharma, DLF and Cairn India.
Top 5 Nifty Losers: Cipla is down by 6.07% as of now. Jindal Steel, Bank of Baroda, PNB and Coal India are also trading lower.
On sectoral front, all sectoral indices are trading in the red zone except Auto. Bankex was the highest loser, down by 115 points, followed by Health Care, down by 63 points, and Oil and Gas, which has lost 60 points. Mid-Caps and Small-Caps are both are red, in the range of 28 points. However, Auto is showing some strength up by 54 points.
The Asian shares are reflecting a negative sentiment. The Nikkei market is the top loser this morning, down by 252 points. Hang Seng has also dipped by 95 points. Taiwan Weighted and KOSPI are also down.
Buzzer: Cipla, stock lost 6.07% on poor Q3 results. Company's Standalone net profit fell by 23.02% to Rs 260.77 crore and consolidated net profit fell 17% to Rs 284 crore Vs Rs 340 crore (YoY).
The Nifty is trading at the 6059 level, 6065 will be a major support for further trading sessions.
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