According to the SGX Nifty, today’s opening of the Indian stock markets will be bullish. On Wednesday, US markets finished mostly neutral, while Asian markets stayed in the red. Back home, the Sensex and Nifty closed down for the third consecutive session on Wednesday.
The Sensex closed down 159 points, or 0.2%, at 59,567. The Nifty-50 finished down 41 points at 17,618.“Nifty after gaining nine consecutive trading sessions, has now been consolidating below the 17800 zones for the last 3 days. Even FIIs have turned net sellers and have added to the overall weakness. For now, the market is stuck in a narrow range due to a lack of major triggers. There is some action seen in the broader market with niche sector-specific momentum,” said Siddhartha Khemka of Motilal Oswal Financial Services.
Foreign institutional investors dropped Indian stocks for the third consecutive day on Wednesday. According to statistics available on exchanges, FIIs net sold shares worth Rs 13 crore in cash markets, compared to Rs 810 crore in shares sold in yesterday’s trading session. DIIs continued to sell shares worth Rs 110 crore, according to preliminary data from exchanges.
Today’s top stocks to watch are Mastek, Tata Communications, ICICI Securities, and Equitas Financial.