Benchmarks for Indian equities began trading higher on Monday, bolstered by optimism in international markets.
By 9:40 a.m., the Nifty was up 80 points, or 0.33 percent, at 24,621, while the Sensex was up 200 points, or 0.25 percent, at 80,636.
Overall market trends are still favorable. There are 1,784 shares in the green and 389 shares in the red on the National Stock Exchange (NSE).
The Nifty smallcap 100 index is up 1.46 percent at 18,705 and the Nifty midcap 100 index is up 409 points, or 0.71 percent, at 58,068.
PSU Bank, Fin Service, Metal, Real Estate, Pharma, Energy, and Infrastructure are the top performing sectors indices. The NSE index’s lagging sector is auto.
NTPC, SBI, Tata Steel, Titan, ITC, Reliance, Wipro, and Bajaj Finance are the top gainers in the Sensex pack. Top losers include M&M, Nestle, Tata Motors, Axis Bank, HDFC Bank, Bharti Airtel, and ICICI Bank.
An analyst with Choice Broking stated: “Nifty can find support at 24,500, followed by 24,450 and 24,350, following a strong opening. On the plus side, 24,700 might pose an instant challenge, and then 24,750 and 24,800.”
According to the Bank Nifty’s charts, support might be seen at 50,500, 50,300, and 50,200. 50,800 would be the first significant resistance level if the index continued to rise, followed by 50,900 and 51,100 “, he continued.
Mixed trading is taking place in Asian markets. Tokyo and Seoul are in the red. Shanghai, Hong Kong and Bangkok are in the green mark. US markets closed with gains on Friday. Crude oil benchmark Brent crude was at $79.58 per barrel and WTI crude at $75.41 per barrel.
The foreign institutional investors (FIIs) turned net buyers on August 16 as they bought equities worth Rs 766 crore, while domestic institutional investors also bought equities worth Rs 2,606 crore on the same day.
