Mumbai: Indian equity indices opened in the red on Friday following weak global cues from Asian peers.
At 9:45 a.m., the Sensex was at 81,196, down 146 points or 0.18 percent, and the Nifty was down 75 points or 0.34 percent, at 24,716.
The broader market trend is negative. On the National Stock Exchange (NSE), 1651 shares are in red and 526 (shares) in green.
Selling pressure is also seen in midcap and smallcap stocks. The Nifty Midcap 100 index is down 591 points, or 1.03 percent, at 56,520, and the Nifty Smallcap 100 index is at 18,661 points, down 167 points, or 0.89 percent.
Deven Mehata, Research Analyst at Choice Broking, said, “Nifty can find support at 24,700, followed by 24,650 and 24,600. On the higher side, 24,850 can be immediate resistance, followed by 24,900 and 25,000.”
On Thursday, Infosys reported a good number compared to estimates.
Infosys, Asian Paints, ITC, Nestle, HCL Tech, Kotak Mahindra Bank and HDFC Bank are the top gainers in the Sensex pack. Tech Mahindra, Tata Steel, UltraTech Cement, JSW Steel and Wipro are the top losers.
There is a decline in Asian markets. Tokyo, Hong Kong, Shanghai, Bangkok, Seoul and Jakarta are trading in the red. The American market also closed in the red on Thursday.
On July 18, foreign institutional investors (FIIs) bought equities worth Rs 5,483 crore, while domestic institutional investors sold equities worth Rs 2,904 crore.
–IANS
