Indian stock markets today are likely to witness a muted opening as signalled by the SGX Nifty. US markets on Friday ended in the red. Back home, both Sensex and Nifty ended the session in the green on Friday, after two consecutive days of consolidation.
The Sensex ended higher by 123 points at 62,027, while the Nifty ended higher by 17 points at 18,314 on Friday. “Technically, the index is mutedly moving higher and forming strong support near 18,100 levels from the past four trading sessions. The immediate support for the Nifty has shifted higher at around 18,150 – 18,100 levels. In case prices drift below these levels, then 18,000 will be on the cards. Similarly, as the trend is on the higher side 18,400 – 18,450 levels seem to be an achievable goal and will act as an immediate resistance,” said Rohan Patil of SAMCO Securities.
Foreign Institutional Investors continued to add Indian equities for the 12th straight session on Friday. According to data available on exchanges, FIIs bought shares worth Rs 1,014 crore in the cash markets, against Rs 837 crore worth of shares bought in Thursday’s trading session. On the other hand, flows from DIIs remained negative as they sold shares worth Rs 922 crore, provisional data from exchanges showed.
Top stocks to watch today are IGL, Avenue Supermarts, AMI Organics, DLF, Adani Enterprises, besides others.