Indian stock markets today are expected to witness a flat opening with a positive bias as signalled by the SGX Nifty. At 6:45 AM, the SGX Nifty was up 11 points. On Thursday, Dow Jones & S&P 500 and Nasdaq ended the session in the green.
The Sensex on Wednesday ended 346 points higher at 57,960, while the Nifty on Wednesday ended at 17,080, up 129 points. The Nifty Bank too ended higher by 342 points at 39,910. “Nifty, as expected, seems to have made a short term bottom. It has closed at the highest in 5 days. 17207-17255 could be the next resistance for Nifty while 16985 could be a support,” said Deepak Jasani of HDFC Securities.
Key Levels to track for Nifty today are 16,978 on the downside, whereas on the upside, the resistance for Nifty today largely stands at 17,120.
Foreign Institutional Investors drove the Indian markets higher on Wednesday. FIIs were net buyers to the tune of Rs 1,245 crore in the cash markets, provisional data from exchanges showed. Flows from DIIs also remained positive on Wednesday as they bought shares worth Rs 823 crore, provisional data from exchanges showed.
Stocks to watch today are Tata Power, GR Infraprojects, BEL, Maharashtra Seamless, besides others.