Mumbai, 25 February (IANS). The Indian benchmark index opened in green mark on Tuesday. In early trade, shopping was recorded in media and auto sectors.
At around 9.36 am, the Sensex was trading at 74,647.09 at 74,647.09 at around 9.36 am or 0.26 percent, while the Nifty was 33.85 points or 0.15 percent to 22,587.20.
The Nifty Bank was up 33.70 points or 0.07 percent to 48,685.65. The Nifty Midcap 100 index was trading at 49,688.40 after a fall of 324.70 points or 0.65 percent. The Nifty Smallcap 100 index was at 15,382.20 after 95.10 points or 0.61 percent.
According to experts, the Nifty broke the lower level and closed down. Also, closed below the Nifty support line. After the support level breaks, the recession can catch speed down.
Vikram Kasat, lead advisor to PL Capital, said, “The lowest channel is at the lower and 22100 level. 22820 will be a significant resistance level as well as a trend reversal.”
Meanwhile, the Sensex pack featured M&M, Zomato, Maruti Suzuki, Nestle India, ICICI Bank, Hindustan Unilever, Bajaj Finserv, Bharti Airtel and Kotak Mahindra Bank top gainers. Whereas, L&T, Tech Mahindra, TCS, Powergrid, Sun Pharma, NTPC, HCL Tech, UltraTech Cement and Titan Titan were the top losis.
In the previous trading session in the US markets, Dow Jones climbed 0.08 percent to close at 43,461.21. The S&P 500 index fell 0.50 percent to 5,983.25 and Nasdaq fell 1.21 percent to close at 19,286.93.
In Asian markets, Sol, China, Bangkok, Japan, Jakarta and Hong Kong were trading in red mark.
Foreign institutional investors (FIIs) continued their selling and sold shares worth Rs 6,286.70 crore on 24 February. Meanwhile, domestic institutional investors (DIIs) continued their purchases and bought shares worth Rs 5,185.65 crore on the same day.
Hardik Matalia of Choice Broking said, “Given the dynamics of the current market, traders are advised to take care and wait for the confirmation of price action at the critical level before starting new deals.”
-IANS
SKT/KR
