Indices Choppy on RBI’s Move

The Indian markets saw some profit booking on higher level in the afternoon session however the Reserve Bank Of India kept the repo rate and cash reserve ratio unchanged. The Nifty is trading around the crucial support level of 8450. It is currently down by 80 points to trade at 8462 and the Sensex is down by 280 points and is trading at 27905. Both the indices were seen trading lower by 0.95 percent.

On the NSE, the advance-decline ratio is negative with 1292 advances and 1337 declines.

Top Nifty Gainers: Tech Mahindra is leading the gainer lists so far and is up by 2.7%. It is followed by Asian paints, BPCL, Hindalco and Coal India.

Top Nifty Losers: Idea Cellular is leading the losers list so far and is down by 4.48%. It is followed by Cairn India, IndusInd Bank, GAIL and Infosys.

All the sectoral indices are trading on a negative note. The Capital Goods index is the top loser, trading lower by 140  points. It is followed by Consumer Durabales, IT and Oil & Gas indices, which are down by 100 points. Bankex, Healthcare and FMCG were also down by 70 points. Mid-caps and Small-caps in negative in this scenario.

The Asian market continued to trade in same as morning session. Nikkei is down by 27 points. Hang Seng is down 39 points. The Straits Times and KOSPI too were trading with negative note.

Buzzer:  Tech Mahindra surged by 3.5% as the scrip showing some strength on current level which is around Rs 540. If it manages to close above Rs 550 level it may see more upside. 

Today Nifty Futures trading in a very wide range. It took good support at 8450 level and major hurdle stands at 8500 level for further trading session.