Markets Open Weak, Nifty Below 8100 Mark

The Indian markets opened with a negative sentiment after seeing some selling pressure from last few sessions. The Nifty opened down and continued to make new lows. The Nifty is currently trading with a negative bias of 42 points at 8071 and the Sensex is down 123 points at 26,645. Both indices opened lower in the range of 0.46-0.53 per cent.

The advance-decline ratio is on the negative side in the morning session. On the NSE, 770 shares are trading with gains and 1059 shares are down.

Top 5 Nifty Gainers: Coal India is the top gainer for today’s morning session, up by 1.7 %, followed by Tata Power, Axis Bank, L&T and Bajaj Auto.

Top 5 Nifty Losers: IndusInd Bank is the top loser for today’s morning, down by 2.43%, followed by Cairn India, PNB, HUL and Bank of Baroda.

Followed by yesterday’s trend, 11 out of the 13 sectoral indices are trading in the red zone. Bankex was the top loser, down by 147 points, followed by Auto, down by 130 points, and Consumer Durables, which have lost 62 points. Health Care, IT, Mid-Caps and Small-Caps are also surrounded in negative scenario the range of 40 points. On the other hand, the Capital Goods and Metals indices were up by 63 points and 39 points respectively.

The Asian shares are reflecting mixed sentiment. The Nikkei market is weak in this morning, down by 25 points. However Hang Seng is trading steady with gains of over 100 points. Taiwan Weighted and Shanghai Composite are also up.

Buzzer: Coal India is up by more than 1.5 per cent on the bourses today and opened above the technical level of around Rs 410. If the stock sustains above this level, it may touch Rs 415/420 mark in the next few sessions.

The Nifty future is trading below its crucial support level, which was around 8100 mark. If it sustains below this mark may see 8040/8010 levels ahead.