Markets Trim Gains , Heavy Sell-Off In Tata Motors
Suparna / 18 Mar 2014
After scaling to record highs in the morning session, markets turned volatile in the afternoon trade. Markets wiped out most of its gains as selling emerged in sectors like Realty, Capital goods, Auto, Teck and IT. The CNX Nifty is up by 1 point at 6505 and the BSE 30 is also higher by a mere 1 point to trade at 21808.
Equity benchmarks are marginally under pressure in noon trade, currently, Nifty is up by 1 point at 6505 and Sensex has moved up by 1 point to 21808. The indices have moved higher in the range of 0.13% each.
The advance-decline ratio also continues to be positive. On the NSE, 1703 shares are in the green and 1632 shares are in red.
Top Nifty Gainers: Maruti Suzuki is leading the gainers list, up by 7.39%. IndusInd Bank, Power Grid Corp, Jindal Steel and SBI are the other stocks trading higher.
Top Nifty Losers: Tata Motors is down by 2.76% so far, followed by Jaiprakash Asso, DLF, M&M and HDFC.
On sectoral front, 10 out of 13 sectoral indices are trading on a positive note. Oil & Gas and FMCG indices are up by 120 points and 93 points respectively. Mid-Caps and Small-Caps were also up by 76 points and 43 points.
On the Asian front, Nikkei maintained the morning gain and trading up by 133 points. Hang Seng, is up by 109 points. KOSPI and the Shanghai Composite were trading with nominal gain in midsession.
Buzzer: Mahindra & Mahindra (M&M) has gained nearly 2.2% to Rs 1,048.65 on the bourses, making an intraday high and 52 week high of Rs 1,054.90 so far.
Nifty Futures is trading around the 6542 level. If it maintains to trade at the current level we may see some further strength.
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