Sensex and Nifty Trading With Negative Bias, Metal Sector Most Hit
Suparna / 11 Mar 2014
On the sectoral indices Metal sector was hammered the most and is currently trading lower by 261 points. The 30 share BSE Sensex is down by 133 points at 21800 and the 50 share Nifty is 33 points lower at 6504. IT stocks are showing good recovery, hovering in the positive zone. Tata Steel lost more than 4.41% in the mid session.
The markets continued to trade lower in early afternoon trades, with Nifty at an intraday low of 6504, down by 33 points since opening and Sensex is trading 133 points lower at 21800. Most of the sectoral indices have all moved into the red.
On the NSE, the advance-decline ratio is negative with 1473 advances and 1879 declines.
Top Nifty Gainers: DLF is leading the gainers list so far, up by 4.25%. Tata Power, IDFC, Grasim and Ambuja Cements are among the others trading higher.
Top Nifty Losers: Tata Steel is down by 4.41%, followed by Hindalco, Sun Pharma, Sesa Sterlite and NMDC.
All the sectoral indices continue to be in negative in mid-session, except IT. Metal is down by 261 points, Bankex has lost 97 points, Healthcare has dipped by 84 points and Auto by 50 points. Mid-Caps and Small-Caps too are trading marginally lower.
In the Asian markets, Nikkei is up by 103 points and Hang Seng has gained 4 points. Straits Times and Shanghai Composite too are trading on a positive note.
Buzzer: NMDC is down by 2.61 %. The stock has made an intra-day low of Rs 124.50 so far.
Nifty Futures has failed to sustain at the support level of 6550, and is currently trading at 6532. 6500 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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