Markets Still In Red, Sensex Down By 92 Points
Suparna / 20 Feb 2014
Metal stocks came down as China announced its manufacturing data which fell more than the estimation. The effects were seen in India’s metal sector as JSW Steel (down 1.27%), Steel Authority of India (down 1.27%) lost on the bourses. Nifty is down by 32 points at 6119 and Sensex is 92 points lower at 20631.
The markets continued to trade lower in early afternoon trades. Nifty is trading at an intraday low of 6119, down by 32 points since opening and Sensex is trading 92 points lower at 20631.
On the NSE, the advance-decline ratio is negative with 1492 advances and 1761 declines.
Top Nifty Gainers: Jaiprakash Asso is leading the gainers list so far, up by 5.22%. Tata Power, Bajaj Auto, Dr Reddy’s Labs and Wipro are among the others trading higher.
Top Nifty Losers: Bank of Baroda is down by 3.14%, followed by ICICI Bank, Kotak Mahindra, IndusInd Bank and Tata Steel.
10 out of 13 sectoral indices have moved into negatives in mid-session. Bankex is down by 168 points, Metals lost 65 points, Oil & Gas has dipped by 41 points. Mid-Caps and Small-Caps are trading higher by 6 points and 1 points respectively.
In the Asian markets, Nikkei is down by 317 points and Hang Seng has lost 270 points. Straits Times and Shanghai Composite too are trading on a negative note.
Buzzer: Metal stocks lost after Chinese manufacturing index fell more than estimated this month. JSW Steel (down 1.27%), Sesa Sterlite (down 0.89%), Bhushan Steel (down 0.8%), Steel Authority of India (down 1.17%).
Nifty Futures is currently trading at 6131. 6100 is the next crucial level. While sustaining this level can lead to some recovery, a failure to do so will result in more losses.
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