Markets Flattish Ahead Of Expiry
Since the last few days, the Indian markets have been witnessing good recovery. On account of global cues as well as domestic cues. In the current scenario the sectoral indices have seen some directionless trades ahead of F&O expiry of June. As a result, the Nifty opened on a flat note at 8357, lower by 4 points. The Sensex was up by 21 points at 27751. Both indices opened in the range of -0.3-0.12 per cent.
The advance-decline ratio was skewed towards the positive in the morning session. On the NSE, 1000 shares were trading with gains while 991 shares were down.
Top Nifty Gainers: BPCL is the top gainer so far today and it has appreciated by 1.66%. It is followed by HDFC, Cairn India, Bajaj Auto and BHEL.
Top Nifty Losers: HCL tech is the top loser for the morning session. It is trading down by 1.88%. It is followed by Tech Mahindra, Cipla, M&M and Ambuja Cement.
On the sectoral front, 9 out of the 13 sectors are trading in the red. Bankex and Consumer Durables have been the top losers as they have been down more than 50 points. It is followed by IT and FMCG which are trading lower by 40 points and 44 points respectively. Mid-Caps and Small-caps are also negative in the range of 20-35 points each. However, Capital goods and Healthcare were maintaining some positive bias by 122 points and 25 points respectively.
On the global front, Asian shares are trading on a mixed sentiment. Hang Seng is the top loser and is trading lower by 104 points. Followed by Nikkei which is trading lower by 27 points. However the Taiwan and Shanghai Composite are also trading on a positive note.
Buzzers: BPCL the stock has been trading above its major hurdle of Rs 860 per share. Going ahead, the stock may touch Rs 870 per share if it sustains above the mentioned level.
Nifty futures has consolidated in the range of 8350-8370. If it manages to cross 8380, we may see some more upward movement.