Muted start for the Indian markets today with Sensex and Nifty 50 just floating above the base line. Cipla (2.9%), Sun Pharmaceutical Industries (2.3%), Dr. Reddys Laboratories (1.4%), Reliance Industries (1.2%), Shree Cement (1.2%), Wipro (1.1%) are trading with more than 1 percent gains while Eicher Motors (-3.7%), Tata Motors (-2.1%), Hero MotoCorp (-1.5%), Bharti Infratel (-1.4%), Maruti Suzuki India (-1.1%), Axis Bank (-1.0%) etc are with more than 1% loss.
Only Power Grid Corporation of India (5%), HCL Technologies (2%) and attracting buyers now which indicated a negative undercurrent as of now. Now only a domestic positive news or a positive opening in the Europe a surge in Dow futures can help the markets to recover otherwise being a Friday higher chances of markets falling further. Tata Steel (-72%), HDFC Bank (-68%), ICICI Bank (-63%), Axis Bank (-62%), Kotak Mahindra Bank (-60%), Zee Entertainment Enterprises (-54%), IndusInd Bank (-54%), State Bank of India (-54%) etc are with heavy sellers compared to their respective buy bids.
Only Larsen & Toubro (23.6%) is trading with more volume compared to 2 months average volume till 10:41am. Cipla (-11.8%), Eicher Motors (-27.3%), Tata Steel (-32.7%), Bharat Petroleum Corporation (-42.7%) etc also trading with better volumes compared to other Nifty 50 stocks.
Cipla (2.8%), Sun Pharmaceutical Industries (2.0%), Dr. Reddys Laboratories (1.4%), Tech Mahindra (1.4%), Reliance Industries (1.3%), Bharat Petroleum Corporation (1.0%) etc recovered more than 1% from their respective intra day lows today and Eicher Motors (-4.2%), Bharti Infratel (-3.5%), Tata Motors (-3.3%), Hero MotoCorp (-2.4%), Zee Entertainment Enterprises (-2.4%), Larsen & Toubro (-2.4%), GAIL India (-2.4%), Tata Steel (-2.3%) etc dropped more than 2% from their intra day high.