What to expect from Sensex, Nifty today? | Action Punjab

Stock market update:  The stock market commences in positive note on Friday with Sensex and Nifty 50 opening higher.  

The Sensex rises by 106.76 points, initiating at 71,535.19, while the Nifty 50 is increased by 81.95 points, starting at 21,747.10.

This upward movement occurred despite mixed global cues and uncertainty in Asian markets.
On Friday morning, there were 28 advances and 22 declines among the Nifty companies.

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Meanwhile, notable gainers included Apollo Hospitals, TCS, Reliance Industries, Titan, and Sun Pharma, while BPCL, Hindalco, ONGC, UPL, and Coal India emerged as the top losers.

Technical analysis suggests a potential short-term downward trend for the Nifty 50, with support levels at 21,550 – 21,500 offering buying opportunities.

However, if the index falls below 21,690, it could indicate further declines towards 21,500. Conversely, maintaining a position above 21,700 might signal a near-term recovery.

Meanwhile, trading in Asian markets remained subdued due to several markets being closed for public holidays. Futures contracts for the Hang Seng Index indicated a third consecutive daily decline, reflecting volatility amidst China’s endeavors to stabilize its equity market.

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Despite these global uncertainties, the Indian stock market’s positive opening on Friday offers a ray of hope amid the prevailing volatility in international markets. Investors are keenly observing both domestically and internationally for cues on future market direction and international developments for indications regarding future market direction.