Sensex, Nifty Directionless, Oil & Gas Down By 1.7%
Suparna / 25 Mar 2014
Indian markets are currently witnessing a directionless trade owing to a negative opening in the morning session. The CNX Nifty is trading down by 2 points at 6581 and the BSE 30 is lower by 22 points to trade at 22034. The indices have moved down in the range of .03%-.10%
After witnessing a negative opening in the morning trade, the indices continue to trade in the same range in mid-session. Oil & Gas got hammered because of this negative scenario; however Capital Goods and Metals provide some support to the indices. The Nifty is down by 2 points at 6581 and Sensex is trading 22 points lower at 22034. The indices have moved down in the range of .03%-.10%.
The advance-decline ratio is on the negative side at this hour. On the NSE, 1431 shares are in the green and 1871 shares are in red.
Top 5 Nifty Gainers: BPCL is leading the gainers list, up by 3.47%. The other stocks trading higher include BHEL, Power Grid, Tata Steel and GAIL.
Top 5 Nifty Losers: Reliance is down by 3.02% so far, followed by ONGC, Wipro, Ambuja Cement and HCL Tech.
Most of the sectoral indices saw positive trade in mid-session. Capital Goods and Metals are up by 161 points and 51 points respectively. The Consumer Durables and Bankex indices have both gained more than 40 points. Mid-Caps and Small-Caps are also trading in the positive territory. However Oil & Gas and IT saw some weaker trade.
The Asian markets remained in negative in mid-session as well. Hang Seng is up by 85 points, whereas Nikkei market is down by 52 points. However Taiwan and Shanghai Composite are trading in gains.
Buzzer: BPCL has gained around 3.3% on the bourses and made an intraday high of Rs 448. The stock is trading above its major support level of Rs 440. If it closes above this level, it may move more upside around to Rs 460/470 in the next 3-4 trading sessions.
Nifty Futures are hovering near the technical level of 6600. Going ahead the level of 6570/6550 will act as a vital support level.
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