Markets Open Flat, RBI Policy Ahead
The Indian markets opened flat this morning with the RBI monetary policy announcement ahead. The Nifty opened with a positive bias of 7 points at 5838 and Sensex was up by 7 points at 19,600. Both the indices opened up in the range of 0.03%-0.13%.
The advance-decline ratio is on the negative side in the morning session. On the NSE, 1449 shares are trading in gains and 1903 shares are down.
Top Nifty Gainers: Jindal Steel is the top gainer for today’s morning session, up by 3.8%, followed by IDFC, Sun Pharma, Asian Paints and HCL Tech.
Top Nifty Losers: DLF is the top loser for today’s morning session, down by 2.9%, followed by GAIL, BPCL, HUL and NMDC.
On the sectoral front, 7 sectors are trading in the red zone. Auto was the top loser, trading down by 61 points, followed by FMCG and Oil & Gas, down by 55 points and 38 points respectively. Mid-Caps and Small-Caps were both down by 25 points. However, IT and Healthcare were seen trading in the positive zone, up by 77 points and 46 points correspondingly.
On the global front, the Asian shares are trading with a positive sentiment. The Nikkei market is the top gainer for today’s morning session, up by 228 points. Hang Seng is also trading on a positive note, up by 146 points, followed by Taiwan Weighted and Shanghai Composite, which are both trading on a positive note.
Buzzers: Wockhardt Pharma continued trading with a negative sentiment, down by 4.99% and made a low at Rs 491. The stock is at its lower circuit price, which indicates some selling pressure on further move.
Nifty is hovering around the level of 5875. Going ahead, 5910 will be a major hurdle for it and 5840 will be a major support.