FIRST TRADE: Indices open at fresh highs; Nifty at 26,012, Sensex up 7 pts
Amid resilient cues, Indian equities notched fresh highs today as sentiment improved in the Asian markets.
Indian equities cheering global mood started higher on the weekly expiry day. At the start, Sensex was up 0.01 per cent or 7.06 at 85,176.93, while the Nifty was up at 26,012.4, up 0.03 per cent or 8.25 points.
Sectorally, while IT and FMCG pack were resilient, all others traded in the red.
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "There are no immediate near-term triggers that can take the market sharply up or down. Up moves may attract selling by FIIs who are likely to move some more money to China and Hong Kong since these markets are cheap and are witnessing an uptrend now. But FII selling is unlikely to push the market down significantly since the ample domestic liquidity can easily absorb such selling. A range-bound market is the near-term scenario and, therefore, the real action will be stock-specific.
Prashanth Tapse, Senior VP (Research), Mehta Equities said, "While India's growth fundamentals remain resilient despite global concerns and Middle-East tensions, investors need to be mindful of the valuations getting expensive after the recent upsurge. With the current bullish momentum underway, aggressive targets for Nifty are seen at 26500-27000 zone while the index is likely to find support at 24755."
Meanwhile, Asian stocks advanced with the Japan's Nikkei up a sharp over 2 per cent. The market sentiment remained upbeat over stimulus measures in China and tech stocks logged sharp gains tracking strong earnings reported by US peer Micron.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 7 Mutual Funds With Highest Returns in 10 Years: No. 1 fund has converted Rs 10 lakh investment into Rs 92,52,530; know what others have done
Hindustan Aeronautics, Dr Reddys Labs and 3 more: Axis Direct recommends buying 5 stocks for 5-15 days | Check targets, stop losses
Power of Compounding: How much money do you need to invest in monthly SIP to make Rs 15 crore retirement corpus if started investing at 30? See calculations
EPFO Pension Rules: You can get 8% extra EPS pension by using this trick; see calculations with examples
10 stocks to buy for long term: Piramal Pharma, Pitti Engineering, Kalpataru Projects, 7 others; note down targets
Top 7 SBI Mutual Funds With Best SIP Returns in 15 Years: Rs 5,000 monthly SIP in No. 1 fund has grown to Rs 68,84,790
11:11 AM IST