Opening Bell – Markets trade cautious ahead of F&O expiry, Nifty opens at 9359
At 9:15 AM, the BSE Sensex opened down by 23 points at 30,109, while the Nifty50 opened higher up by 8 points at 9359 mark.
Tata Motors is the top Nifty gainer and Axis Bank is the top Nifty loser in the morning hours. Tata Motors is trading at Rs 455 per share up by 0.93% whereas Axis bank is trading at Rs 506.65 per share, down by 2.03%.
There are 826 advances, 611 declines and 488 unchanged stocks on NSE reflecting some positive bias floating in the market.
The rupee opened at 64.05 per US dollar higher by around 6 paise. On Wednesday, the rupee hit its 20-month high of 64.11 per US dollar.
Nifty50 closed at a fresh record high on Wednesday. Now, going forward, the momentum is likely to continue and Nifty50 may scale up to levels of 9,400-9,420, where it may find some resistance. On the downside, supports are seen around the levels of 9,270 and 9,220.
The US stocks closed marginally lower on Wednesday, retreating from intra-day high after the long-anticipated tax overhaul proposal from the White House turned out to be largely what Wall Street expected all along. The Dow Jones Industrial Average shed 21 points to close at 20,975. The Nasdaq Composite index finished down 0.27 points to close at 6,025. The S&P 500 lost 1 point to close at 2,388.
Asian markets are trading in the negative terrain on Thursday. Japan’s Nikkei 225 has shed 53 points. Hong Kong’s Hang Seng has lost 42 points. China’s Shanghai Composite is trading lower by 20 points.