Today’s Indian stock markets are predicted to begin flat with a bullish tilt, as indicated by the SGX Nifty. Overnight, US markets closed mixed, with the Nasdaq and S&P 500 in the negative. The Dow Jones finished the day up 98 points.
On Tuesday, the Sensex closed 311 points higher at 60,157, while the Nifty 50 closed 98 points higher at 17,722.
The Nifty Bank index rose 531 points to 41,366. “ 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 17,500–17,450 levels and resistance is capped at 17,900 levels. In case the Nifty breaches below 17,450 levels, then 17,300 will be the next support zone,” said Rohan Patil of SAMCO Securities.
For the seventh consecutive session, foreign institutional investors continued to purchase. According to preliminary data from exchanges, FIIs purchased shares worth Rs. 342 crore in the cash market on Tuesday. DIIs, on the other hand, sold shares worth Rs 264 crore, according to preliminary data from exchanges.
Among the top stocks to watch today are BHEL, Titagarh Waggons, Delta Corp., Sula, and Paras Defence.