Indian stock markets today are expected to witness a weak opening as signalled by the SGX Nifty. US markets overnight ended lower with the Nasdaq and S&P 500 ending down 0.8% and 04%, respectively. The Dow Jones ended marginally lower by 38 points.
The Sensex on Wednesday ended the session higher by 235.05 points at 60,392, while the Nifty-50 ended higher by 90 points at 17,812. Nifty Bank surged 191 points at 41,557. “Bulls will aim to take over the positive baton to Thursday’s weekly expiry trade and continue to close the markets in the green. The overall trend remains in a bullish mode and any dip in the index will be an opportunity to enter fresh long. The support for the Nifty is placed at around 17,600–17,650 levels and resistance are capped at 17,900–17950 levels. In case the Nifty breach is below 17,600 levels than 17,400 will be the next support zone,” said Rohan Patil of SAMCO Securities.
Foreign Institutional Investors continued their buying spree for the ninth straight session. FIIs on Wednesday bought shares worth Rs 1,907 crore in the cash market, provisional data from exchanges showed. Flows from DIIs however turned negative as they sold shares worth Rs 225 crore, provisional data from exchanges showed.
Top stocks to watch today are TCS, Anand Rathi Wealth, BHEL, AU SFB, Karnataka Bank, besides others.