Indices Range Bound, Healthcare Dives

The Indian markets continue to consolidate in a tight band in late afternoon trade. The stocks like Hindalco and Vedanta saw recovery from the lower levels and this helped the Metal index to gain some strength and it is trading up by 75 points. Consumer Durables and Bankex also maintain their positive momentum. The Nifty is trading down by 25 points at 8018 and the Sensex is 55 points lower at 26470.

The advance-decline ratio is indicating negative bias. On the NSE, 1003 shares are in the green and 1424 shares are in red.

Top 5 Nifty Gainers: Vedanta is leading the gainers list so far, up by 3.25%. Hindalco, HUL, Tata Motors and HDFC are also in gains.

Top 5 Nifty Losers: Cairn India is down by 4.76%, followed by Cipla, Bosch, Tech Mahindra and Bank Of Baroda.

10 out of the 13 sectors are trading in the red zone. Healthcare was the top loser, down by 193 points, Auto and Capital Goods were down around by 100 points each and IT was 75 points lower. Mid-Caps and Small-Caps also lost around 50 points each. However Metal and Consumer Durables maintains its positive bias.  

The Asian markets have all been in the negatives since morning today. The Nikkei index is the top loser so far, down by 360 points and the Hang Seng is down by 326 points. Straits Times and Taiwan also remained in the red.

Buzzer: Cipala, the stock has seen a negative movement and made low below its vital support level of Rs 600.

Nifty futures have been able to sustain above 8000 level in today’s session. The markets are hoping for some recovery from the current levels to 8030.