The SGX Nifty shows that the Indian stock markets are likely to start the day flat with a bullish tilt.The SGX Nifty was up 35 points at 6:40 a.m. On Friday, the Dow Jones, S&P 500, and Nasdaq all completed the session with robust gains of more than a percent.
On Friday, the Sensex finished 1,031 points higher at 58,991, while the Nifty gained 279 points to settle at 17,359. The Nifty Bank closed 698 points higher at 40,608. “The bullish candle on Friday’s session showed a greater enthusiasm to close above its 9 & 21 EMA which is placed at 17,116 & 17,222 levels,” Rohan Patil of SAMCO Securities.
Foreign institutional investors bought for the third consecutive session on Friday. According to preliminary statistics from exchanges, FIIs were net purchasers in the cash markets to the tune of Rs 357 crore. DIIs continued to purchase shares worth Rs 2,479 crore on Friday, according to preliminary data from exchanges.
Today’s stocks to watch include Tata Motors, Maruti Suzuki, Shriram Properties, and RVNL, among others.