Indian stock markets today are expected to witness a weak opening as signalled by the SGX Nifty. At 6:40 AM, the SGX Nifty was down 50 points. On Tuesday, Dow Jones, S&P 500 and Nasdaq ended the session with losses of over 0.5% each.
The Sensex on Monday ended the session higher by 114 points at 59,106, while the Nifty-50 ended slightly below the 17,400 levels. Nifty Bank surged over 200 points in the last hour of trade on Monday. “Technically, Friday’s bullish candle has shown optimism amongst the traders but the index needs to cross 17,500 levels on the higher side for a shift in the momentum. On the lower side, 17,100 and 17,000 will act as anchor point for the index,” said Rohan Patil of SAMCO Securities.
Foreign Institutional Investors continued their buying streak for the fourth straight session on Monday. FIIs were net buyers to the tune of Rs 321 crore in the cash markets, provisional data from exchanges showed. Flows from DIIs however turned negative as they sold shares worth Rs 328 crore in the cash markets on Monday, provisional data from exchanges showed.
Top stocks to watch today are HDFC Bank, M&M Finance, Marico, Cyient, IndusInd Bank, Bandhan Bank, besides others.