Mumbai: Indian Equity Indices Trade Flat After Record High Opening
Indian equity indices traded flat on Tuesday after reaching record highs at the opening. The Sensex and Nifty achieved new all-time highs of 79,855 and 24,236, respectively.
As of 9:42 a.m., the Sensex stood at 79,393, down 82 points or 0.10 percent, while the Nifty was at 24,111, down 30 points or 0.12 percent.
Both small-cap and mid-cap shares traded lower. The Nifty Midcap 100 index declined by 146 points or 0.26 percent to 56,146, and the Nifty Smallcap 100 index fell by 28 points or 0.15 percent to 18,564.
Among the sectoral indices, IT, Realty, and Energy were the major gainers, while Auto, PSU Bank, Pharma, and FMCG sectors experienced losses.
Deven Mehata, a Research Analyst at Choice Broking, commented, “The Nifty may find support at 24,100, followed by 24,000 and 23,950. On the higher side, 24,200 can act as immediate resistance, followed by 24,300 and 24,400.”
Regarding the Bank Nifty, Mehata added, “The index may receive support at 52,300, followed by 52,100 and 52,000. If the index advances further, 52,800 would be the initial key resistance, followed by 53,000 and 53,200.”
Foreign institutional investors (FIIs) sold equities worth Rs 426 crore on July 1, while domestic institutional investors purchased equities worth Rs 3,917.43 crore.
On the international front, markets in Tokyo, Shanghai, Hong Kong, and Jakarta showed bullish trends, whereas markets in Bangkok and Seoul were in the red. The crude oil benchmark Brent crude stood at $86.81 per barrel, and WTI crude was priced at $83.52 per barrel.
