Indian markets likely to open positive, SGX Nifty trades higher

The market is stuck in a narrow range due to a lack of major triggers

Indian stock markets today are expected to witness a positive opening as signalled by the SGX Nifty. US markets on Wednesday ended largely mixed, whereas markets in Asia remained in the red. Back home, both Sensex and Nifty ended the session lower on Wednesday for the third straight session.

The Sensex ended lower at 59,567, down 159 points or 0.2%. The Nifty-50 ended lower by 41 points at 17,618. “Nifty after gaining nine consecutive trading sessions, has now been consolidating below the 17800 zones for the last 3 days. Even FIIs have turned net sellers and have added to the overall weakness. For now, the market is stuck in a narrow range due to a lack of major triggers. There is some action seen in the broader market with niche sector-specific momentum,” said Siddhartha Khemka of Motilal Oswal Financial Services.
Foreign Institutional Investors too sold Indian equities for the third straight session on Wednesday. According to data available on exchanges, though marginal, but FIIs net sold shares worth Rs 13 crore in the cash markets, against Rs 810 crore worth of shares sold in yesterday’s trading session. Flows from DIIs also remained negative as they sold shares worth Rs 110 crore, provisional data from exchanges showed.
Top stocks to watch today are Mastek, Tata Comm,  ICICI Securities, Equitas SFB.

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