Market Witnessing Choppy Trade
Suparna / 19 Mar 2014
After a positive opening, Indian markets are currently witnessing choppy trade ahead of the US Federal Reserve policy review. Weakness in IT sector is weighing on the market sentiments. TCS is down by more than 4% in the morning session. At this hour the CNX Nifty is up by 14 points at 6531 and the BSE 30 is higher by 30 points to trade at 21863. Indian rupee opened higher by 13 paise at Rs 61.06 per USD against Rs 61.19 on Tuesday.
The Indian markets opened on a positive flat note, triggered by firm Asian stocks. However, markets are currently witnessing a volatile trade as heavy weights witness selling pressure ahead of the US Federal Reserve policy review later today. As a result the Indices tanked the Nifty up by 14 points at 6531 level and Sensex up by 30 points at 21863 levels. Both indices are up in the range of 0.24%
The advance-decline ratio is on the positive side in the morning session. On the NSE, 1782 shares are trading in gains and 1555 shares are down.
Top Nifty Gainers: Hindalco is the top gainer for today’s morning session up by 3.79% followed by Tata Steel, Axis Bank, Lupin and Sesa Sterlite Only.
Top Nifty Losers: TCS is the top loser for today’s morning session down by 4.10% followed by Tata Power, Infosys, ONGC and Wipro.
On the sectorial view 11 out of 13 sectors are trading in green. Metals have gained 188 points, followed by Bankex and FMCG which are up by 88 points and 57 points. However, IT was top loser in the morning session down by 252 points. Mid-Caps and Small-Caps also were trading in positive bias by 27 points and 23 points.
On the global front, Asian shares are trading on mixed sentiment. The Nikkie market is top gainer for today’s morning session up by198 points, followed by KOSPI Index which is up by 2 points. However, Hang Seng trades on negative note down by 27 points.
Buzzers::- TCS fall 4.10% to Rs 2030.30, TCS management indicated that Q4 earnings would get muted by seasonal weakness and margin pressure.
Nifty future is currently trading at 6554 level. Below this level may see more down fall.
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