Today markets opened with a stellar performance from Infosys with 10% gain in the morning trade itself after a better than expected June quarter results. All top 5 IT stocks – Infy, Hcl tech, Tcs, Wipro and Tech Mahindra are in green but all other nifty stocks are in red.
Gainers : INFY (10.0%), HCLTECH (4.2%), TCS (3.3%), WIPRO (1.5%), TECHM (1.2%)
Losers : INFRATEL (-3.3%), IOC (-3.0%), ZEEL (-3.0%), ITC (-3.0%), HDFC (-2.2%), VEDL (-2.2%), POWERGRID (-2.1%), GAIL (-2.1%), UPL (-2.1%), NTPC (-2.0%), HINDALCO (-2.0%), TATASTEEL (-2.0%), TITAN (-2.0%), BPCL (-1.9%), COALINDIA (-1.9%)
In the buy sell chart also most of the stocks are in the selling more with some stocks are with 50% extra sell bids than buy bids like Kotak Bank, HDFC Bank, Reliance and ICICI Bank. Only Infy, Wipro, Powergrid, Shree Cements and Coal India have more buyers than sellers in the first hour of trade.
Top Buy Bids : INFY (100%), WIPRO (19%), POWERGRID (12%), SHREECEM (8%), COALINDIA (5%), ADANIPORTS (2%), ULTRACEMCO (2%)
Top Sell Bids : KOTAKBANK (-71%), HDFCBANK (-66%), RELIANCE (-63%), ICICIBANK (-56%), HINDUNILVR (-41%), SBIN (-41%), TCS (-39%), ITC (-36%), AXISBANK (-35%), LT (-34%), CIPLA (-30%), INDUSINDBK (-27%), SUNPHARMA (-27%), BAJFINANCE (-26%), TECHM (-23%)
In the volume front also no major gainers as of now : HCLTECH (-11.2%), INFY (-12.1%), WIPRO (-14.4%), TECHM (-40.8%), TCS (-49.2%), RELIANCE (-61.2%), POWERGRID (-86.3%), UPL (-86.8%), IOC (-87.1%), DRREDDY (-87.4%), TITAN (-87.4%), ITC (-87.6%), ZEEL (-88.4%), COALINDIA (-89.3%), GAIL (-90.1%)
Major Recoveries Today : WIPRO (3.3%), TCS (2.6%), INFY (2.2%), HCLTECH (1.8%), RELIANCE (1.3%), DRREDDY (0.9%), TITAN (0.8%), INDUSINDBK (0.8%), BHARTIARTL (0.7%), HINDALCO (0.6%)
Major Drops Today : INFRATEL (-4.6%), ZEEL (-4.2%), ITC (-3.2%), GAIL (-3.2%), HEROMOTOCO (-3.1%), UPL (-3.1%), INDUSINDBK (-3.1%), IOC (-3.0%), AXISBANK (-3.0%), BPCL (-2.8%), SHREECEM (-2.7%), POWERGRID (-2.7%), TECHM (-2.6%), TATAMOTORS (-2.6%), TITAN (-2.5%)
Many stocks dropped more than 2% in first few minutes of trading itself. So overall trend is negative. Indices are holding only because of Infosys and IT stocks. Asia also trading in red after China’s second quarter GDP announcement. Dow Jones future also now down 94 points. So unless there is any positive news by afternoon from Europe or from domestic font high chances of a negative closing today.