Mumbai
The Indian stock market opened with a rise in Wednesday’s trading session. At 9:50 am, Sensex was at 76,059, up 221 points or 0.29 per cent, and Nifty was at 23,056, up 31 points or 0.14 per cent.
Despite the rise in largecaps, business trend is negative
Despite the rise in largecaps, the business trend remains negative. On the National Stock Exchange (NSE), 633 shares are in the green and 1,488 shares are in the red. The Nifty Midcap 100 index is down by 633 points or 1.18 per cent at 53,181 and the Nifty Smallcap 100 index is at 17,183, down by 273 points or 1.57 per cent. Was.
Pressure in auto, PSU bank, metal, realty and energy indices
According to market experts, after a positive start, 22,950, 22,800 and 22,600 are the support levels for Nifty. On the higher side, 23,100, 23,250 and 23,400 are resistance levels. IT, Financial Services, Pharma, FMCG, Private Bank, Infra and Services indices remain bullish. There is pressure in Auto, PSU Bank, Metal, Realty and Energy indices.
ITC, TCS, HDFC, ICICI Bank, Titan, Bharti Airtel Top Gainers
Sun Pharma, Infosys, ITC, TCS, HDFC Bank, ICICI Bank, Titan, Bharti Airtel, HUL, L&T, Bajaj Finance, Nestle, Kotak Mahindra Bank and HCL Tech are the top gainers in the Sensex pack. Zomato, Power Grid, Tata Motors, Tata Steel, IndusInd Bank and SBI are the top losers.
Markets remain above oversold for 14 days
According to Akshay Chinchalkar, Head of Research, Axis Securities, the near-term target for the decline that started yesterday is 22,830. The markets have remained above oversold for 14 days. For this reason we are not expecting any major decline.
Boom is being seen in Asian markets
Asian markets are witnessing a boom. Tokyo, Bangkok, Seoul and Jakarta are in green. However, Chinese markets are trading in the red. American markets closed with gains on Monday. Brent crude was up 0.14 percent at $79.41 per barrel and WTI crude was up 0.05 percent at $75.87 per barrel.
