Markets Flattish, Nifty Holds 8300 Mark
Since the last couple of sessions, the Indian markets have been witnessed selling pressure. In the current scenario the sectorial indices have seen some directionless trades. As a result, the Nifty opened on a flat note at 8333, higher by 13 points. The Sensex was up by 34 points at 27679. Both indices opened higher in the range of 0.13-0.19 per cent.
The advance-decline ratio was skewed towards the positive in the morning session. On the NSE, 1443 shares were trading with gains while 733 shares were down.
Top Nifty Gainers: Zee Entertain is the top gainer so far today and it has appreciated by 2.43%. It is followed by Coal India, Sun Pharma, Kotak Mahindra and Lupin.
Top Nifty Losers: Tech Mahindra is top loser for the morning session. It is trading down by 1.75%. It is followed by TCS, NTPC, power Grid and ICICI bank.
On the sectoral front, 10 out of the 13 sectors are trading in the green. Health care and Consumer Durables has been the top gainer as it has appreciated by 236 points and 185 points respectively. It is followed by Metals, Mid-caps and Small-Caps which are trading higher around 100 point each. However IT and Bankex were negative in the range of 50 points each.
On the global front, Asian shares are trading on a positive sentiment. Hang Seng is the top gainer and is trading higher by 388 points. While the Nikkei is trading higher by 125 points, followed by the Shanghai Composite and KOSPI, which are also trading in the positive territory.
Buzzers: Sun Pharma the stock up more than 2%, and broke the technical resistance level of 870. Going ahead, the stock may touch levels of Rs 880-900 per share if it sustains above the mentioned level.
Nifty future has consolidated in the small range of 8330-8350. If it manages to cross 8350, we may see some more upward movement.