Markets open on positive note; Asian Paints top Nifty gainer
At 9:15 AM, the BSE Sensex opened higher by 22 points at 29358, while the Nifty50 opened higher by 5 points at the 9108 mark.
Asian Paints is the top Nifty gainer and Yes Bank is the top Nifty loser in the morning hours on Thursday. Asian Paints is Intraday trading higher by 1.13% at Rs 1060.8 per share whereas Yes Bank is trading lower by 3.18% at Rs 1554.4 per share.
There are 951 advances, 417 declines and 428 unchanged stocks on NSE reflecting strong positive bias floating in the market.
Nifty50 going forward has immediate support in the region of 9,060-9,070, and if this support level is breached, it is likely to open up for correction up to the level of 9,000, which could act as a major support for the Nifty50. On the upside, immediate resistance is placed around the level of 9,165, and if it holds above the level of 9,165, it is likely to test the level of 9,220.
The rupee opened at 64.66 per US Dollar lower by 8 paise.
The Dow Industrial and the S&P 500 ended lower on Wednesday. The Dow Jones Industrial Average fell 119 points to 20,404, with IBM being the biggest drag as the tech giant posted weaker than expected quarterly sales numbers. The S&P 500 lost 4 points and the Nasdaq Composite index gained 14 points to finish at 5,863.
Asian markets are trading with a positive bias on Thursday. The Japan’s Nikkei 225 is trading higher by 68 points. Hong Kong’s Hang Seng has surged 84 points and China’s Shanghai Composite has gained 5 points.