Indices Remain Bearish Amid Rising Political Tensions Between Russia And Ukraine
Suparna / 03 Mar 2014
Rising political tensions between European powerhouse Russia and Ukraine are affecting the Indian markets as well. The 50 share Nifty index is down by 57 points at 6220 and the 30 share BSE Sensex is down by 173 points to trade at 20947. IDFC is leading the gainers list up by 2.02%. Healthcare is the top losing sector down 161 points. China’s Hang Seng markets is facing a slump and is down by 336 points.
The markets continued to trade lower in early afternoon trades. Crude oil prices rose due to on going geopolitical tension between world's largest energy exporter and Russia Ukraine.On the current scenario the Nifty is down by 57 points to trade at 6220 and the Sensex dropped by 173 points to 20947.
On the NSE, the advance-decline ratio is still on the negative side with 1496 advances and 1784 declines.
Top Nifty Gainers: IDFC is leading the gainer lists so far and is up by 2.02%. It is followed by NMDC, Jindal Steel, Cairn India and ITC.
Top Nifty Losers: HCL Tech is leading the losers list so far and is down by 4.52%. It is followed by BHEL, Jaiprakash Asso, Sun Pharma and Dr Reddy’s Labs.
All the sectoral indices have moved into negatives in mid-session. Healthcare is the top loser, trading lower by 161 points. It was followed by Capital Goods and IT indices, which were down by 125 points and 118 points respectively. Mid-Caps and Small-Caps too are trading lower by 37 and 6 points respectively.
The Asian market continued to trade Negative. Hang Seng is down by 336 points and Nikkei has lost 188 points. The Straits Times and KOSPI were trading with nominal loss.
Buzzer: Bhel is down by 2.89%. Bhel has bagged an Engineering, Procurement and Construction (EPC) contract for setting up a power project involving three coal-fired supercritical thermal units of 660 megawatts (MW) each.
Nifty futures is trading at 6240 level. While sustaining this level can lead to some recovery, a failure to do so will result in more losses.
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