Indian equity indices opened Friday’s trading session on a muted note, with a negative bias. The NSE Nifty 50 opened 33 points or 0.12% lower at 26,110. The BSE Sensex opened 115 or 0.14% lower at 85,293.
The Bank Nifty opened 87 points or 0.15% lower at 59,096. Similarly, the small and mid-cap stocks opened in the red. The Nifty Midcap opened 27 points or 0.04% lower at 60,425.
“We believe that the intraday market texture is non-directional; hence, level-based trading would be the ideal strategy for day traders. On the higher side, 26,250 remains the crucial resistance zone for the bulls, whereas 26,100 would be the immediate support area. On the higher side, above 26,250, the market could move up to 26,350-26,400, while below 26,100, the chances of hitting 26,000 would increase,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Bharat Electronics, Coal India, Dr Reddy’s Lab, Titan, and Adani Enterprises. On the flip side, the key laggards in the Nifty 50 pack included Eternal (Zomato), Bajaj Finance, Sun Pharma, HDFC Life Insurance, and SBI Life Insurance.
Major movers on Friday
The stocks that were the major movers in the opening trade included Bharat Electronics, Coal India, Titan, Eicher Motors, and Adani Enterprises, which were the major movers in the morning trade.