Equity Research lab Opening Bell – Markets open higher
Nifty 9971.75 36.95 0.004 9934.8
Banknifty 24468.5 97.7 0.004 24370.8
Sensex 31798.31 110.79 0.003 31687.52
USDINR 64 0.1 0.002 63.9
Bank of Baroda is top Nifty gainer trading at Rs 139.15 per share, up by 1.72% while Vedanta is top Nifty loser trading at Rs 326.15 per share, down by 1.2%. Bank Nifty is trading at 24,505 level, up by 134 points or 0.55%.
Nifty has a cluster of resistance in the zone of 9,980-10,000. Successful breakout of this resistance zone may unfold a fresh leg of up-move towards the levels of 10,080 and 10,140. On the other hand, support is seen around 9,880 and 9,850 levels.
On the broader markets, BSE Mid-cap index is trading at 15,833 level, up by 0.5% while BSE Small-cap index is trading at 16,393 level, up by 0.42%.
Indian rupee opened weak at 63.91 per USD.
The US stocks ended Friday’s session on a mixed note, with both the S&P 500 and the tech-heavy Nasdaq Composite ending the session in the red, whereas the Dow Jones Industrial Average eked out modest gains. The Dow Jones Industrial Average gained 13 points to close at 21,798. The Nasdaq Composite Index fell 38 points and the S&P 500 slipped 4 points to 2,461.
Asian stocks edged higher in early trading on Monday. Japan’s Nikkei 225 is leading with gains of 1.44%, followed by Hong Kong’s Hang Seng and China’s Shanghai Composite which have gained 0.95% and 0.21%, respectively.