The Indian stock market was almost flat open on Wednesday (March 26) amid a strong trend in global markets. In early trade, the BSE Sensex fell 53.10 points or 0.07 percent to 77,964.09 and the Nifty rose 1.20 points or 0.01 percent to close at 23,669.85. Indian stock markets are expected to continue on Wednesday (March 26), as there is a boom in global markets in the hope of a soft trend of US administration in relation to trade charges that come into force from April 2.
According to Srikanth Chauhan, head of Equity Research of Kotak Securities, Nifty and Sensex will have 23,600/77,700 main support areas respectively. Above this level, the market can re -test the range of 23,850/78,300 to 23,900/78,500. On the other hand, the brake of 23,600/77,700 may change the perception of the market. The market below this level can slip from 23,500 to 23,450/77300-77200.
What are the indications from global markets?
On Wednesday, the Asian market opened with an edge on Wall Street. Meanwhile, the hope is increasing that US President Trump’s tariffs would not be as serious as it was estimated initially. ASX 200 increased by 0.83 percent on Wednesday morning. Whereas Kospi recorded an increase of 0.2 percent. Nikkei increased by 0.51 percent and Topics by 0.21 percent. All three major American index closed with profit. S&P 500 increased by 0.16 percent, while Nasdaq increased by 0.46 percent. Dow Jones recorded a slight increase of 0.01 percent.
FII again became buyers
FII bought shares of Rs 5,371.57 on 25 March. While DII sold shares worth Rs 2,768.87 crore on 25 March. Since resetting the purchase, FII has bought shares worth Rs 19,136.83 crore in the last four trading sessions.
How was the market on Tuesday?
In the last trading session, the Sensex rose 32.81 points or 0.04 percent to close at 78,017.19 points. The Nifty rose 10.30 points or 0.04 percent to close at 23,668.65.
