The Indian equity market opened marginally negative today with Sensex opening at 19744.54 versus the previous close of 19781.88 and Nifty declined more than 20 points to start the day at 5828.0. Technically, 5800.0 is a strong support and any fall in Nifty is most likely to get supported here. We expect 5800.0 mark to remain intact for the day; the short term bias stands positive for the Indian equity market, following the better than expected IIP data released last evening. The rupee opened lower by 20 paise at 63.72 per dollar on Friday. In the US, initial jobless claims slipped to 292K in the week ended September 6 from 323K a month ago. The market had anticipated a rise to 332K. US market closed in red as traders locked their profit after pervious gains ahead of Federal Reserve's policy meeting. On BSE, Midcap and Smallcap are trading in green with Midcap up by 0.72% and Small cap is higher by 0.88%. On sectoral front Teck and IT are the exceptions to trade in red while all other are in positive. The top performing sector is Capital Goods adding almost 2%, as we write this.
Further the market breath stands positive with 1136 share are seen advancing against 523 declining shares. 70 shares are unchanged.
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