Markets continue to trade on a weak note in the late noon deals led by selling pressure visible across the board. The Sensex is down 123 points at 17,474 and the Nifty has shed 37 points to 5,321 levels.
Jindal Steel is the top loser among the Sensex stocks, down 3% to Rs 527. Gail India, ICICI Bank, Sterlite Industries, DLF, Bharti Airtel, Mahindra & Mahindra, HUL, Larsen & Toubro, HDFC, Tata Motors and Bajaj Auto are also among the laggards.
On the other hand, BHEL, Maruti Suzuki, Hindalco, ONGC, TCS and ITC are among the notable heavyweight stocks on the BSE.
Realty, metal and banking stocks continue to remain inder intense selling and are amongst the worst hit in the trades thus far. BSE Realty index has slipped, 2% or 36 points to 1,786. Metal and Bankex indices are down over 1% each.
Auto, Oil & Gas, Consumer Durables, Capital Goods, FMCG, Teck, Healthcare and IT indices are also trading lower.
Sobha Developers, Unitech, DB Realty, HDIL, DLF, Anant Raj Industries and Suntech Realty are among the top gainers from the realty space.
Among the individual stocks, Bajaj Corp is trading 3% higher at Rs 124 after the company said its promoters will reduce their stake to achieve minimum public shareholding of 25% from the present level of 15.25% by way of further issue of equity shares through Institutional Placement Programme (IIP).
Essar Oil has slipped 6% to Rs 56.20 on reports that the Supreme Court (SC) has dismissed the company’s petition in sales tax case.
The broader markets are trading on a subdued note. The BSE mid-cap index is down 17 points at 6,453 and the small-cap index is up 10 points at 6,828 levels.
The overall breadth is negative as 1,402 stocks are declining while 1,269 stocks are advancing.
Nifty support tomorrow april 5 2012
``For the day Nifty has support at 5,345 points, break below it index will fill yesterday`s gap to 5,325 points. On the upside index has resistance at 5,360-5,385 and above that at 5,425. Market is in bullish mode and any decline to 5,250 should be used as an opportunity to go long in the index.``
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