According to the SGX Nifty, Indian stock markets are projected to start lower today. The Nasdaq and S&P 500 both finished down overnight, down 0.8% and 4%, respectively. The Dow Jones Industrial Average finished 38 points lower.
On Wednesday, the Sensex closed 235.05 points higher at 60,392, while the Nifty-50 closed 90 points higher at 17,812. The Nifty Bank index rose 191 points to 41,557. “Bulls will aim to take over the positive baton to Thursday’s weekly expiry trade and continue to close the markets in the green. The overall trend remains in a bullish mode and any dip in the index will be an opportunity to enter fresh long. The support for the Nifty is placed at around 17,600–17,650 levels and resistance are capped at 17,900–17950 levels. In case the Nifty breach is below 17,600 levels than 17,400 will be the next support zone,” said Rohan Patil of SAMCO Securities.
For the eleventh consecutive session, foreign institutional investors continued to purchase. According to preliminary data from exchanges, FIIs purchased shares worth Rs 1,907 crore in the cash market on Wednesday. DIIs, on the other hand, sold shares worth Rs 225 crore, according to preliminary data from exchanges.
TCS, Anand Rathi Wealth, BHEL, AU SFB, and Karnataka Bank are among the top stocks to watch today.