Sensex, Nifty Trade In A Range Amid Choppy Trade
The S&P BSE Sensex continued to wing between gains and losses on Friday. At 11:27 am, the 30-share Sensex was at 35,637.05, up 37.23 points or 0.10 per cent while the broader Nifty50 was at 10,823.50, with a gain of 15.45 points or 0.14 per cent. Technical experts said that the markets continue to be indecisive. "Indecisiveness continues in the market. The 10,750 level (of Nifty) on the lower side and 10,850 on the higher side would be the trading range. Traders are advised to wait for further confirmation. Any decisive move either of the side will decide the trend. Intermediate support is placed near 10,600 level," said Dyaneshwar Padwal, AVP-technical analysis, KIFS Trade Capital.
Twenty one stocks on the Nifty50 were trading with gains. Top gainers on the index were Dr Reddy's Laboratories (up 4.12 per cent), Cipla (up 2.87 per cent), Lupin (up 2.75 per cent), UPL (up 2.69 per cent), and Sun Pharma (up 2.41 per cent). The top laggards were Hindustan Petroleum (down 1.81 per cent), NTPC (down 1.80 per cent), IOC (down 1.75 per cent), Bharti Infratel (down 1.25 per cent), and YES Bank (down 1.02 per cent).
Meanwhile, Asian stock markets wobbled as investors braced for US tariffs against China. The Asia Pacific MSCI index edged down 0.2 per cent, with most regional markets shrugging off a strong close on Wall Street. But Japan's Nikkei average added 0.5 per cent.
Japan's central bank maintained its ultra-loose monetary policy on Friday and downgraded its view on inflation while the euro flirted with two-week lows after a cautious European Central Bank indicated it would not raise interest rates for some time.
In overnight trade in the US stock markets, the Dow Jones Industrial Average fell 25.89 points, or 0.1 per cent, to 25,175.31, but the S&P gained 6.86 points, or 0.25 per cent, to 2,782.49 and the Nasdaq Composite added 65.34 points, or 0.85 per cent, to 7,761.04.
On Thursday, foreign portfolio investors net sold equities worth Rs. 1,372.84 crore while domestic institutional investors net purchased shares worth Rs. 576.19 crore, according to provisional data from the National Stock Exchange (NSE). The Sensex had closed at 35,599.82 while the Nifty50 had settled at 10,808.05. (With Reuters inputs)
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