The markets are trading weak amid volatility. Sensex and Nifty are experiencing tough resistance at 21,000 and 6,300 levels respectively. Heavy selling pressure was seen in the oil & gas, metal, auto power, capital good and realty stocks. All the key indices were trading in red except the IT index.
Advance decline ratio has turned into deep negative with over 1000 stocks on the decline side and only 100 stocks on the advancing side. Volume so far has been good.
At 10.30 am, the Sensex is down 50.04 points or 0.24% at 20823.29, and the Nifty down 26.35 points or 0.42% at 6261.50. About 668 shares have advanced, 2263 shares declined, and 22 shares are unchanged.
BSE midcap and smallcap have also slipped in deep red and were trading with deep cut. RNRL, Rel Comm, Rep Petroleum and RIL were some of the most active counters today.
Top gainers on the Sensex are Wipro at Rs 501 up 2.68%, Satyam at Rs 434.90 up 2.45% and NTPC at Rs 271 up 2.17%.
Top losers on the Sensex are ICICI Bank at Rs 1,314.95 down 1.39%, BHEL at Rs 2,464 down 1.21% and HUL at Rs 232 down 1.13%.
Mkts open with modest cut; power, metal stocks down
The markets have opened flat in marginal red in line with its global peers. Mild selling presure was witnessed in the opening trade led by the power, capital goods, metal and auto stocks.
At 9:56 am, Sensex was down 24 points at 20863 and Nifty was down 6 points at 6282.35. Major losers were Reliance Petroleum, Infosys, Tata Motors, ICICI bank, Bajaj Auto, Tata Power, Reliance Energy, SAIL and Sterlite. Few gainers in the opening trade were Wipro, TCS, Unitech.
Asian markets were trading weak. Hong Kong's Hang Seng slipped 0.76% or 205.76 points at 26,907.16. Japan's Nikkei declined 0.75% or 108.81 points at 14,419.86. Singapore's Straits Times plunged 0.56% or 18.60 points at 3,319.67. South Korea's Seoul Composite fell 0.67% or 12.19 points at 1,814.04. However ,Taiwan's Taiwan Weighted was up 0.20% or 16.20 points at 7,979.11.
US markets: The Dow sliped 238.42 points, or 1.86%, to 12,589.07. The S&P 500 index fell 25.99 points, or 1.84%, to 1,390.19, and the Nasdaq plunged 58.95 points, or 2.36%, to 2,440.51.
Market cues:
* FIIs net sell USD 20.1 million in equity
* MFs net buy Rs 30 crore in equity
* NSE F&O Open Interest down by Rs 236 crore at Rs 1.28 lakh crore
Source: Moneycontrol.com
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