Index Remains Range-Bound, IT Shine

The Indian markets witnessed trading in a tight range during the mid-market session. The same scenario was seen in the currency segment, wherein the -INR was seen trading at around 63.60 to the dollar. The Nifty is trading down by 22 points at 8374 and the Sensex is down by 102 points at 27804. The indices are trading on a negative note between -0.23% and 0.33%.

The advance-decline ratio is on the negative side. On the NSE, 1093 shares are in the green and 1393 shares are in the red.

Top 5 Nifty Gainers: HCL tech is leading the gainers list so far and is trading higher by 3.08%. Ultra tech Cement, Infosys, ACC and Bajaj Auto are among other gainers.

Top 5 Nifty Losers: GAIL is leading the losers list so far and is trading lower by 2.8%. It is followed by Cairn India, Vedanta, Kotak Mahindra and PNB.

In the mid-market session, 8 out of the 13 sectors are seen trading in the red zone. Bankex has been the top loser and is trading lower by 212 points. Capital Goods and Metals were down by 172 points and 66 points respectively. Mid-caps and small-caps also were both down by 29 points and 6 points respectively.

All the Asian markets are trading in a red territory since morning. Hang Seng is the top loser so far and has depreciated by 481 points. The Nikkei is trading lower by 65 points. The Straits Times and Taiwan were also trading on a positive note.

Buzzer: PNB failed by 1.9% because of the possibility of major profit booking. The stock broke its first support of Rs 135 per share. If it sustains at current levels, we may see it at around Rs 130 per share at closing.

The Nifty future is struggling to break the 8350 level on the lower side. If it closes below this level, we can see some more downtrend in coming sessions.