Mumbai, Feb 27 (IANS) The Indian benchmark indices opened almost flat on Thursday amid mixed global cues, as buying was seen in the financial services and metal sectors in the early trade.
At around 9.31 am, Sensex was trading 9.44 points or 0.01 per cent up at 74,592.68 while the Nifty climbed 6.30 points or 0.03 per cent at 22,553.85.
Nifty Bank was up 218.90 points or 0.45 per cent at 48,827.25. The Nifty Midcap 100 index was trading at 49,643 after declining 59.15 points or 0.12 per cent. Nifty Smallcap 100 index was at 15,354.50 after dropping 54.10 points or 0.35 per cent.
According to experts, after a flat to positive opening, Nifty can find support at 22,500 followed by 22,400 and 22,300. On the higher side, 22,700 can be an immediate resistance, followed by 22,800 and 22,900.
“The charts of Bank Nifty indicate that it may get support at 48,500 followed by 48,200 and 47,900. If the index advances further, 48,800 would be the initial key resistance, followed by 49,200 and 49,500,” said Hardik Matalia, Derivative Analyst of Choice Broking.
Meanwhile, in the Sensex pack, Bajaj Finance, IndusInd Bank, Bajaj Finserv, M&M, Tata Steel, HDFC Bank, Zomato, Sun Pharma, ICICI Bank and Bharti Airtel were the top gainers. Whereas, UltraTech Cement, Tech Mahindra, Asian Paints, Infosys, Axis Bank and Hindustan Unilever Limited were the top losers.
In the last trading session, Dow Jones declined 0.43 per cent to close at 43,433.12. The S&P 500 added 0.01 per cent to 5,956.06 and the Nasdaq climbed 0.26 per cent to close at 19,075.26.
In the Asian markets, Seoul, China, Jakarta and Hong Kong were trading in red. Whereas Bangkok and Japan were trading in green.
The foreign institutional investors (FIIs) continued their selling on fifth day in a row, as they sold equities worth Rs 3,529.10 crore on February 25. However, domestic institutional investors (DIIs) bought equities worth Rs 3,030.78 crore, on the same day.
Tuesday’s bounce back was turned lower from the 22620 vicinity itself, pointing towards the feebleness of the recovery attempt. A parallel consolidation in the last three days does show signs of giving away on the downside, said Anand James, Chief Market Strategist, Geojit Financial Services.
“But as maintained all this week, we will wait for 22,950 to be conquered, as a confirmation of strength. Downside marker for the day may be placed at 22,530, with deeper support seen at 22,300,” he noted.
–IANS
skt/na
