Mumbai: The domestic benchmark indices opened flat on Friday amid mixed global cues, as selling was seen in the IT sector in the early trade.
At around 9.31 am, Sensex was trading 7.77 points or 0.01 per cent down at 76,340.29 while the Nifty declined 2.25 points or 0.01 per cent at 23,192.90.
Nifty Bank was up 60.10 points or 0.12 per cent at 50,122.95. The Nifty Midcap 100 index was trading at 51,231.35 after adding 86.95 points or 0.17 per cent. Nifty Smallcap 100 index was at 15,951.15 after climbing 93.10 points or 0.59 per cent.
According to experts, after a flat opening, Nifty can find support at 23,100 followed by 23,000 and 22,900.
“On the higher side, 23,250 can be an immediate resistance, followed by 23,350 and 23,400,” said Hardik Matalia from Choice Broking.
Indian equities climbed to their highest level in over a month on Thursday, propelled by the US Federal Reserve’s signal of additional interest rate cuts later this year.
“Nifty closed above its 50-day EMA for the first time since February 5, 2025. Following a robust 1,200-point rally from recent lows, short-term traders should reassess their bullish positions as the market enters a strong resistance zone between 23,200-23,400 levels. Support for the Nifty has now shifted higher to the 22,950-23,000 range,” according to Devarsh Vakil, Head of Prime Research, HDFC Securities.
Meanwhile, In the Sensex pack, Infosys, TCS, HCL Tech, Tech Mahindra, Zomato, Titan, IndusInd Bank, L&T, Asian Paints, ICICI Bank and Axis Bank were the top losers. Whereas, Bajaj Finance, Nestle India, Sun Pharma, Maruti Suzuki, Bajaj Finserv and Adani Ports were the top gainers.
In the last trading session, Dow Jones in the US declined 0.03 per cent to close at 41,953.32. The S&P 500 declined 0.22 per cent to 5,662.89 and the Nasdaq dropped 0.33 per cent to close at 17,691.63.
In the Asian markets, Hong Kong, Jakarta and China were trading in red. Whereas Japan, Seoul and Bangkok were trading in green.
The foreign institutional investors (FIIs) bought equities worth Rs 3,239.14 crore on March 20. On the other hand, after remaining net sellers for the last 29 sessions, domestic institutional investors (DIIs) sold equities of Rs 3,136.02 crore, on the same day.
(IANS)
