Comments
The NSE Nifty was down 0.04 per cent or 7.65 points at 21,718.04 points, while the BSE Sensex was at 71,725.06, down by 0.04 per cent or 27.05 points.
A total of 2,918 stocks were actively traded, 1,662 advanced, while 1,164 declined and 92 stocks remained unchanged, where 245 stocks hit a 52-week high and 9 stocks hit a 52-week low at 9.30 am on Thursday.
Mandar Bhojane, Research Analyst, Choice Broking, said, “The Sensex and Nifty indices are expected to open on a flat-to-positive note on February 1, based on indications from the GIFT Nifty, suggesting a modest gain of 20 points for the broader index.
Equity benchmarks Sensex and Nifty rallied by a per cent each on January 31, supported by across-the-board buying on the eve of the Budget and ahead of the US Federal Reserve meeting outcome.
On the daily chart, Nifty formed a Piercing Candlestick pattern, indicating bullishness. Nifty may find support at 21,450, followed by 21,200 and 21,000. On the higher side, 21,900 can be an immediate resistance, followed by 22,000 and 22,150.
On the daily chart, Banknifty is sustaining above 45,000 levels, which will act as an immediate support level. On the flip side, 47,000 acts as an immediate hurdle. It is currently trading in the range of 44,500 to 46,550, with volatile action expected. If Banknifty breaks the 47,000 level, it may move up further to the 48,000 level.
IndiaVIX was negative by 0.37 per cent intraday, and settled at 16.04.
Foreign institutional investors (FIIs) bought shares worth Rs 1,660.72 crore, while domestic institutional investors (DIIs) purchased Rs 2,542.93 crore worth of stocks on January 31, provisional data from the NSE showed.”
He added, “Due to Budget day and the US FED Meeting, volatility has increased in the market. Investors and traders are advised to maintain their positions with prudent risk management.”
Major gainers on the NSE at 9:30 am include Eicher Motors (2.21%); BPCL (2.07%); Maruti (1.67%); Cipla (1.53%); Power Grid (1.52%)
Major losers include LTI Mindtree (-1.19%); Grasim (-1.13%); Wipro (-1.07%); L&T (-0.95%); Tech Mahindra (-0.69%)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.