Mumbai: After three consecutive sessions of gains, the Indian stock market opened lower on Thursday amid weak global cues, with early selling pressure in IT and auto sectors.
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Market Snapshot: Indices in Early Trade
At around 9:27 AM:
- Sensex was down by 338.13 points or 0.44% at 76,706.16
- Nifty fell 120.75 points or 0.52% to 23,316.45
- Nifty Bank edged up by 62.25 points or 0.12% at 53,180.00
- Nifty Midcap 100 dropped 44.90 points or 0.09% to 52,300.65
- Nifty Smallcap 100 was almost flat, down 1.40 points or 0.01% at 16,347.85
Key Support and Resistance Levels
According to market experts:
- Nifty support: 23,300 → 23,200 → 23,000
- Nifty resistance: 23,500 → 23,600 → 23,800
Derivative Analyst Hardik Matalia from Choice Broking noted:
- Bank Nifty support: 52,800 → 52,500 → 52,300
- Bank Nifty resistance: 53,300 → 53,500 → 53,800
Sectoral Performance: IT and Auto Weigh Heavy
Among Sensex constituents, the top losers included:
- HCL Tech
- Tech Mahindra
- Infosys
- Tata Steel
- TCS
- L&T
- M&M
- Bajaj Finance
- Titan
- Asian Paints
- Nestle India
- Tata Motors
Also Read: What is ITR and Why Filing Income Tax Return Online is Important?
Top gainers were:
- ICICI Bank
- Bharti Airtel
- Sun Pharma
- NTPC
- HDFC Bank
Global Cues: US and Asia Mixed
In the previous trading session on Wall Street:
- Dow Jones fell 1.73% to 39,669.39
- S&P 500 dropped 2.24% to 5,275.70
- Nasdaq declined 3.07% to 16,307.16
In Asian markets:
- Jakarta was trading in red
- Japan, Seoul, China, Bangkok, and Hong Kong were in the green
FII and DII Activity
On April 16:
- Foreign Institutional Investors (FIIs) bought equities worth ₹3,936.42 crore
- Domestic Institutional Investors (DIIs) sold equities worth ₹2,512.77 crore