Markets Tanks On RBI Announcement

The Indian markets opened gap-down in the morning trading session today, after the RBI announced some measures for the rupee’s appreciation against the USD. The Nifty opened with a negative bias of 93 points at 5937 and Sensex was down by 279 points at 19,755. Both the indices opened down in the range of 1.53%-1.48%.

The advance-decline ratio is negative in the morning session. On the NSE, 1374 shares are trading in gains and 1930 shares are down.

Top Nifty Gainers: BPCL is the top gainer for today’s morning session, up by 2.79%, followed by ONGC, Sun Pharma, Ranbaxy Labs and TCS.

Top Nifty Losers: DLF is the top loser for today’s morning session, down by 2.5%, followed by IDFC, IndusInd Bank, ICICI Bank and PNB.

On the sectoral front, 10 out of 13 sectors are trading in the red zone. Bankex is top loser in the morning session, down by 617 points, followed by Capital Goods and Auto, which were down by 220 points and 150 points respectively. Metals and Consumer Durables are down by 140 points and 82 points correspondingly. Mid-caps and Small- Caps were both down in the range of 50 points this morning. However, FMCG and Oil & Gas saw some strength from the opening trading session.

On the global front, the Asian shares are trading with a mixed sentiment. The Nikkei market is the top gainer for today’s morning session, up by 73 points. However, Hang Seng market is trading on a weak note down by 10 points. Shanghai Composite and KOSPI are trading on a negative note.

Buzzers: YES Bank is one of the biggest losers in the banking sector, down by 8% in the opening trading session. The stock dipped more than Rs 40 from yesterday’s closing session and broke an important support of Rs 460.

Nifty future broke a major psychological level of 6000 in the opening session. Going ahead, the limit for Nifty would be the 5920-5900 level.