Indian equities are expected to open on a flat note today, with the broader markets likely to trade within a range amid sector-specific momentum. Early trends from GIFT Nifty indicate a muted start, with the index trading at 25,221, down 4.5 points (-0.02%).
Global cues: Asian markets opened lower, dragged by sharp unwinding in Hong Kong and Taiwan equities, while China and South Korea markets remain shut for holidays. The Hang Seng Index witnessed heavy selling, led by Alibaba and Baidu, which fell between 3% and 5%, as Hong Kong’s bank holiday continues for a second day. Meanwhile, U.S. stock futures steadied after an overnight dip on Wall Street, as investor sentiment cooled around the ongoing artificial intelligence rally.
Sectors to watch: Financials, energy, and select construction stocks are expected to remain in focus through the day, with potential activity seen in PSU banks and large-cap energy names.
Technical outlook:
For Nifty near futures, key support levels are placed at 25,142 and 25,060, while resistance is seen at 25,301 and 25,351.
For Bank Nifty near futures, support lies at 56,301 and 56,124, whereas resistance levels are identified at 56,670 and 56,792.
