At 9:15 AM, the BSE Sensex opened higher by 8 points at 28909, while the Nifty50 opened lower by 10 points at the 8914 mark.
BPCL is the top Nifty gainer and GAIL is the top Nifty loser. BPCL is trading at Rs 642.9 per share, up by 0.6%. GAIL is trading at Rs 374 per share, down by 3.8%.
Dr. Reddy's touched its fresh 52-week low of Rs 2750 per share, down by 3.4% in the morning hours on Thursday.
There are 516 advances, 1127 declines and 72 unchanged stocks on NSE reflecting strong negative bias floating in the market.
Since 21st February 2017, Nifty50 is oscillating in a range of 8,860-8,993. A decisive move on either side will trigger a fresh leg of trending move. However, for the day key support levels to watch out for is 8,890 and next support is placed at levels of 8,860. Whereas, on the upside Nifty50 as multiple resistance in the range of 8,980-9,000.
All eyes are on Thursday’s evening’s exit polls from the five states that held Assembly elections - Uttar Pradesh, Uttarakhand, Punjab, Goa and Manipur.
The rupee opened at 66.81 per dollar lower by 11 paise.
The Dow Industrials and S&P 500 closed in negative territory on Wednesday as oil prices dropped and a stronger-than-expected report on private sector employment increased the probability for an interest-rate hike next week. The Dow Jones Industrial Average declined 69 points to end at 20,856.
The S&P 500 Index slipped 5 points to close at 2,363. The Nasdaq Composite rose 4 points to finish at 5,838.
Most of the Asian stock markets are trading lower on Thursday. Japan’s Nikkei 225 trading with marginal gains of 25 points, whereas, Hong Kong’s Hang Seng shed 281 points. The Shanghai Composite slipped 21 points.
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