The US markets on Friday ended in the green with the Nasdaq index up over 1.8% and the Dow Jones up nearly 200 points. Back home, both Sensex and Nifty ended the session in the green on Friday but managed to sustain at the record high levels made in the day led by heavyweight Reliance Industries.
With the interim budget behind us, the focus now will shift back to the end of the Q3 earnings season and the Monetary policy meet of the Reserve Bank of India scheduled this week. In today’s trade, the markets will react to earnings from SBI, Tata Motors and UPL from the Nifty pack.
The Sensex ended higher by 440 points at 72,085, while the Nifty ended higher by 156 points at 21,853 on Friday. “21,800 is the key support level for positional traders and above those levels, the Nifty can test newer highs towards 22,300 levels. However, below the 21,800 mark, the index may fall towards 21,700 or even 21,600 on the downside” said Amol Athawale of Kotak Securities.
Foreign Institutional Investors continued to add Indian equities. According to data available on exchanges, FIIs bought shares worth Rs 71 crore in the cash markets. On the other hand, flows from DIIs remained positive too as they bought shares worth Rs 2,463 crore, provisional data from exchanges showed.
Top stocks to watch today are SBI, Tata Motors, UPL, Paytm, Zee Entertainment, Bank of India, IndiGo.
