At 9:15 AM, the BSE Sensex opened higher by 44 points at 31147, while the Nifty50 opened higher by 15 points at 9621 mark.Dr Reddy’s is the top Nifty gainer and Tata Power is the top Nifty loser in the morning hours.
There are 827 advances, 590 declines and 513 unchanged stocks on NSE reflecting some positive bias floating in the market.
The level of 9,700 is likely to act as a strong barrier for the Nifty50. If it holds above the level of 9,700, a rally is likely up to the level of 9,730. On the downside, the support for Nifty50 index is placed in the region of 9,620-9,630.
Nifty50 index has immediate support placed around the level of 9,580 and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, the level of 9,640-9,650 is likely to act as a resistance for the Nifty50, if it holds above the level of 9,640-9,650, it may scale up to the level of 9,700.
The rupee opened flat at 64.34 per US dollar. On Wednesday, the rupee closed at 64.34 against the American dollar, up 0.16% from its Monday’s close of 64.44.
The US stocks moved to the upside early in the session and remained firm throughout the trading session on Tuesday. The Dow and the S&P 500 both closed at record levels. The Nasdaq Composite Index surged 45 points to close at 6,220. The Dow Jones Industrial Average climbed 93 points to end at 21,328. The S&P 500 rose 11 points to close at 2,440.
Asian stocks were trading mixed in early trading on Wednesday. Japan’s Nikkei 225 has been trading with gains of 62 points; Hong Kong’s Hang Seng has lost 53 points, while China’s Shanghai Composite has shed 11 points.
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