Mumbai, Sep 11 (IANS) India equity indices were trading flat following weak global cues from the US and Asian Markets.
At 9.45 a.m., Sensex was up 69 points or 0.09 per cent at 81,990 and Nifty was up 29 points or 0.12 per cent at 25,070.
In early trade, Buying was seen in the midcap and smallcap stocks. Nifty midcap 100 index was up 291 points or 0.49 per cent at 59,330 and Nifty smallcap 100 index was up 88 points or 0.46 per cent at 19,405.
In the Sensex pack, Asian Paints, Sun Pharma, Bajaj Finance, Bharti Airtel, Ultratech Cement, HUL, SBI, Power Grid, HCL Tech, ITC and Kotak Mahindra Bank were top gainers. Tata Motors, Wipro, ICICI Bank, JSW Steel, Infosys, Titan, HDFC Bank and Tech Mahindra were the top losers.
According to the market experts, “The Fed will kick off its rate-cut cycle this month. In India, too, we can expect two rate cuts by the MPC in FY25. Banking stocks, which are attractively valued, are good buys now for medium to long-term investors. The investor preference of defensives like Pharma and FMCG is likely to continue.”
Among the sectoral indices, PSU Bank, pharma, FMCG, infra and IT were top gainers. Auto, metal, realty, energy and pvt bank were top laggards.
Deven Mehata, Derivative Analyst of Choice Broking, “Nifty can find support at 25,000 followed by 24,900 and 24,800. On the higher side, 25,150 can be an immediate resistance, followed by 25,250 and 25,300.”
Almost all Asian markets were trading in the red. Tokyo, Hong Kong, Seoul and Bangkok fell the most. The US markets closed mixed on Wednesday.
The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 2,208 crore on September 10, while domestic institutional investors sold equities worth Rs 275 crore on the same day.
–IANS
avs/dpb
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
