Opening Bell – Watch Markets position
At 09:15 AM, Nifty opened at 9,875 level, up by 3 points and Sensex opened at 31,685 level, up by 59 points. There are 836 advances, 590 declines and 496 unchanged stocks on NSE reflecting positive sentiments floating in the market.
ONGC is the top Nifty gainer, trading at Rs 168.50 per share, up by 2.25% whereas Asian Paints is the top Nifty loser, trading at Rs 1184.65 per share, down by 1.03%.
Nifty finds support around 9758 which is the 100 DMA (day moving average) while 9950 will act as strong resistance on the upside. Bank Nifty also finds support around 23850 which is the 100 DMA while 24250 will act as resistance on the upside.
On Monday, the Dow Jones industrial average closed 53.50 points lower, or 0.24%, at 22,296.09. Information technology had its worst day since August 17, falling 1.4% as the greatest decliner in the S&P 500, which declined 5.56 points to 2,496.66.
Japan’s Nikkei 225 sank 0.28%. Across the Korean Strait, the Kospi declined 0.12% as geopolitical tensions weighed, although the index was off lows touched earlier in the session. Greater China markets were moderately lower. Hong Kong’s Hang Seng Index was off 0.16% in early trade. Shanghai Composite edged down 0.03% and the Shenzhen Composite lost 0.27%.