Indian stock markets today are expected to witness a weak opening as signalled by the SGX Nifty. At 6:45 AM, the SGX Nifty was down 55 points. RBI’s monetary policy today remains a key trigger for the Indian markets today and investors will take cues from the governor’s speech and stance of the central bank.
The Sensex on Wednesday ended the session higher by 582 points at 59,689, while the Nifty-50 ended higher by 159 points at 17,557. Nifty Bank surged 186 points in of trade, led by gains in HDFC Bank and Bandhan Bank. “Technically, the structure is shifting its momentum towards the bulls and the index remains in a buy-on-dips mode as of now with immediate support placed at 17,300 levels and the near-term resistance capped below 17,800 levels,” said Rohan Patil of SAMCO Securities.
Foreign Institutional Investors continued their buying spree of Indian equities for the fifth straight session on Wednesday. FIIs were net buyers to the tune of Rs 807 crore in the cash markets on Wednesday, provisional data from exchanges showed. Flows from DIIs however remained negative as they sold shares worth Rs 947 crore in the cash markets on Wednesday, provisional data from exchanges showed.
Top stocks to watch today are Nykaa, Tata Steel, Dmart, Hero MotoCorp, Equitas Small Finance Bank, besides others.