At close, Sensex was trading 98.84 points up at 61,872.62 and Nifty50 was trading 35.75 points up at 18,321.15.
New Delhi: Indian indices opened Thursday on a flat note edging towards the negative side after the uncertain stance of the US Fed and ongoing talks about the US debt ceiling cast a shadow of volatility in the markets. Sensex today opened at 61,706.13, climbed up to 61,934.01 and fell down to 61,484.66 during the day’s trade; Nifty, meanwhile, opened today at 18,268.90, touched a high of 18,338.10 and a low of 18,202.40 during the day’s trade.
At close, Sensex was trading 98.84 points up at 61,872.62 and Nifty50 was trading 35.75 points up at 18,321.15.
“With the Nifty facing potential trouble ahead of the June 1st deadline, cautiousness prevails. Technical conditions indicate an overbought state, highlighting the need for caution. Nifty’s major obstacles lie at the 18473 mark, and only surpassing this level will set the stage for its all-time high at 18888. In contrast, Bank Nifty’s upward trend is poised to surge once it surpasses its all-time high at 44153, targeting the psychological milestone of 45,000”, said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd.
Mr Tapse also added that, with the Nifty expected to trade within the range of 18000-18800, its crucial resistance zone resides at the 18500 mark.
“As we await Q4 earnings announcements, select stocks like INDIAN HOTELS, APOLLO TYRES, SBIN, and VEDANTA present buying opportunities on corrective declines. However, the top pick of the moment is M&M FINANCIAL, with a suggested buy range of 279-281, targeting 295/301, and aggressive targets at 311 (Interweek Strategy),” said Mr Tapse.
SENSEX TOP GAINERS
- Bharti Airtel: 2.93 per cent
- ITC: 1.81 per cent
- Kotak Bank: 1.17 percent
- L&T: 0.93 per cent
- PowerGridCorp: 0.74 percent
- Bajaj Finance: 0.70 per cent
- Infosys: 0.66 per cent
SENSEX TOP LOSERS
- Wipro: -1.35 per cent
- Tata Motors: -1.06 per cent
- HDFC: -0.79 per cent
- Sun Pharma: -0.79 percent
- IndusIndBank: -0.70 per cent
- HUL: -0.43 per cent
- Tata Steel: -0.38 per cent
NIFTY TOP GAINERS
- Bajaj Auto: 2.95 per cent
- Adani Enterprises: 2.92 per cent
- Bharti Airtel: 2.82 per cent
- ITC: 1.90 per cent
- Divi’s Labs: 1.68 percent
- Eicher Motors: 1.61 percent
- Tata Consumer Products: 1.27 per cent
NIFTY TOP LOSERS
- Wipro: -1.18 percent
- IndusIndBank: -0.94 per cent
- IndusInd Bank: -0.92 per cent
- UPL: -0.85 percent
- Hindalco: -0.76 per cent
- Sun Pharma: -0.76 per cent
- HDFC: -0.74 per cent
- HUL: -0.65 per cent