Indian stock market opens flat, Sensex above 73,600
The Indian benchmark indices opened almost flat with Sensex trading at while the Nifty declined 12.65 points
- MUMBAI — The Indian benchmark indices opened almost flat on Thursday amid
mixed global cues, as selling was seen in the IT and FMCG sectors in the early
trade.
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- At around 9.33 am, Sensex was trading 58.07 points or 0.0.08
per cent down at 73,672.16 while the Nifty declined 12.65 points or 0.06 per
cent at 22,324.65.
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- Nifty Bank was up 205.85 points or 0.42 per cent at
48,695.80. The Nifty Midcap 100 index was trading at 49,649.70 after gaining
481.35 points or 0.98 per cent. Nifty Smallcap 100 index was at 15,429.35 after
rising 128.30 points or 0.92 per cent.
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- According to market watchers, after a positive opening,
Nifty can find support at 22,200 followed by 22,100 and 22,000. On the higher
side, 22,450 can be an immediate resistance, followed by 22,550 and 22,700.
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- The RBI will conduct two open market operations purchases
worth Rs 50,000 crore each on March 12 and March 18 and a USD/INR Buy/Sell Swap
auction of 10 billion dollar for a tenor of 36 months on March 24. This will
inject more liquidity into the system.
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- "The Nifty closed above its 5-day exponential moving
average (EMA) for the first time since February 6, 2025, potentially signalling
a reversal from a bearish to a bullish trend in the short term," said
Devarsh Vakil, Head of Prime Research at HDFC Securities.
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- Meanwhile, in the Sensex pack, Tata Motors, Asian Paints,
Zomato, Tata Steel, IndusInd Bank, Hindustan Unilever, ICICI Bank, Axis Bank,
HCL Tech, TCS and Bajaj Finserv were the top gainers. Whereas, Kotak Mahindra
Bank, PowerGrid, Infosys and UltraTech Cement were the top losers.
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- In the last trading session, Dow Jones gained 1.14 per cent
to close at 43,006.59. The S&P 500 added 1.12 per cent to 5,842.63 and
the Nasdaq added 1.46 per cent to close at 18,552.73.
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- In the Asian markets, Only Bangkok was trading in red.
Whereas China, Japan, Seoul, Jakarta and Hong Kong were trading in green.
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