The US markets ended in the red on Friday with the Dow Jones index declining over 150 points. Back home on Friday, both Sensex and Nifty ended higher on the run up to record high levels. The Sensex ended higher by 376 points, while the Nifty gained 130 points to end at 22,040.
“We expect market sentiment to strengthen further as the prospect of a pre-election rally is quite strong. Two important pre-poll surveys by India Today and Times Now predict a more than comfortable majority (272+ seats) for the incumbent BJP-led NDA. Nifty is hovering near all-time zones and is all set to make new highs next week,” said Siddhartha Khemka of Motilal Oswal Financial Services.
On the technical front, Om Mehra of Samco Securities, says, “Technically, a substantial support is identified at the 21,650 level while resistance levels are set at 22,222 and 22,350. In broader indices the midcap segment showcases a robust recovery particularly in Auto, PSE, IT, and PSU banking stocks.”
Foreign Institutional Investors on Friday added shares worth Rs 253 crore in the cash markets. On the other hand, flows from DIIs continued to remain positive as they added shares worth Rs 1,571 crore, provisional data from exchanges showed.
Top stocks to watch today are LIC, Tata Power, Paytm, Titagarh Rail Systems, Sula Vineyards.
