Indian stock markets today are expected to witness a strong opening as signalled by the SGX Nifty. US markets overnight ended largely in the green with over 1-2% jump on the indices. Back home, both Sensex and Nifty ended the session with gains on Thursday led by sustained foreign flows.
The Sensex ended higher by 348 points at 60,649, while the Nifty ended at 17,915, up 101 points. “The immediate support for the Nifty has shifted higher at around 17,600 – 17,500 levels. In case prices drift below these levels, then 17,300 will be on the cards. Similarly, as the trend is on the higher side 18,300 levels seem to be an achievable goal and will act as an immediate resistance in the coming expiry,” said Rohan Patil of SAMCO Securities.
Foreign Institutional Investors on Thursday continued to remain net buyers of Indian equities after seven straight sessions of selling. According to data available on exchanges, FIIs bought shares worth Rs 1,652 crore in the cash markets. On the other hand, flows from DIIs also remained positive as they bought shares worth Rs 97 crore, provisional data from exchanges showed.
Top stocks to watch today are Axis Bank, Wipro, LTIMindtree, Godrej Consumer, Raymond, besides others.