Markets are volatile in trading, with the Sensex marginally higher and the Nifty50 flat as of 10 am.
The market breadth is tilted in favour of sellers. About 882 stocks declined and 608 shares advanced on National Stock Exchange.
- Despite market volatility, some stocks like Kotak Mahindra Bank and ACC Limited are still getting broker target price or recommendation upgrades.
- The Sensex is sharply down as the day nears market close, 0.73% lower as of 315 pm. Nifty50 is down 0.91% at 10,916.
- Nomura expects India GDP growth to slow further in the April-June quarter of this year to 5.7 per cent. Slowdown drivers according to analysts are falling consumer spend, weak investments and service sector.
- Logistics company Gati is trading lower on downward rating for its long term and short term banking facilities.
- Navin Flourine, Coffee Day among the top gainers in markets today.
- Dr. Reddy fell sharply after the company received eight Form 483 observations by U.S. FDA in the audit of formulations manufacturing plant at Duvvada, Vishakapatnam.
BSE 500: highs, lows and moving averages
3 stocks climbed above their 200 day SMA including Bharat Electronics Ltd. (94.65 1.39%) and Max Financial Services Ltd. (437.40 -0.64%). 11 stocks slipped below their 200 SMA including IDFC First Bank Ltd. (44.10 -1.78%) and JSW Holdings Ltd. (2635.00 -1.28%).