Sensex trades flat on negative global cues

India fairness indices opened flat on Thursday following negative cues from global markets. At 9:45 a.m., Sensex was up 20 factors at 78,694 and Nifty was up 9 factors at 23,877. Midcap and smallcap shares are outperforming in comparison with largecaps.

The Nifty Midcap 100 index is at 55,429, up 183 factors or 0.33 per cent, and the Nifty Smallcap 100 index is at 18,334, up 35 factors or 0.20 per cent. The market pattern stays constructive. On NSE, out of complete 1278 shares are in inexperienced, whereas 792 shares are in crimson.

ExtremelyTech Cement, JSW Steel, Tata Steel, NTPC, Kotak Mahindra Bank, Bajaj Finserv, and Bajaj Finance are the highest gainers. M&M, Tech Mahindra, L&T, HCL Tech, and Wipro are the highest losers.

There is a decline in Asian markets. Tokyo, Seoul, Shanghai, Hongkong and Bangkok are buying and selling within the crimson. The US markets closed flat on Wednesday.

Shrey Jain, Founder and CEO of SAS Online, stated, “After being range-bound till mid-month, the Nifty is now experiencing a decisive upside breakout. For right now’s month-to-month expiry, we anticipate the Nifty to come across resistance round 24,000 as a result of most Call open curiosity (OI) at that degree.”

“On the draw back, the 23,650-23,700 zone is taken into account a shopping for space, with recent lengthy positions really useful round these ranges,” Jain added.

(With inputs from IANS)