Sensex Opens In Red Following Profit Booking In Smallcap And Midcap Stocks

Indian Equity Indices traded lower on Thursday amid profit-booking midcap and smallcap stocks.  At 9:46 a.m., the Nifty was at 24,588, down 17 points or 0.07 percent, and the Sensex was down 102 points, or 0.13 percent, at 80,608 points.

There is selling in the small- and mid-cap markets. The Nifty smallcap 100 index is 168 points, or 0.89 percent, lower at 18,893 than the Nifty midcap 100 index, which is down 482 points, or 0.77 percent, at 57,181.20.

The biggest losers among the sectoral indices are auto, metal, real estate, media, and PSE. The two biggest winners are PVT Bank and FMCG.

Sensex pack top gainers are Sun Pharma, HCS Tech, Infosys, TCS, Axis Bank, SBI, and M&M. The biggest losers are NTPC, JSW, Reliance, HDFC Bank, Tata Steel, UltraTech Cement, Asian Paints, and Bajaj Finance.

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Deven Mehata, Research Analyst at Choice Broking, said, “Nifty can find support at 24,550 followed by 24,500 and 24,400. On the higher side, 24,650 can be an immediate resistance, followed by 24,700 and 24,800.”

On July 16, domestic institutional investors increased their selling, selling stocks worth Rs 529 crore, while foreign institutional investors (FIIs) extended their support by buying shares worth Rs 1271 crore.

In Asian markets, there is mixed trading. Tokyo, Shanghai, and Seoul are seeing a downturn, but Hong Kong, Bangkok, and Jakarta’s markets are doing well. US markets had a mixed Wednesday closing.