INSUBCONTINENT EXCLUSIVE:
Mumbai:
Indian equity indices opened on a flat note on Tuesday following
mixed global cues and geo-political tensions.At 9:18 am, Sensex was down 11 points at 80,785 and Nifty was down 8 points at 24,452.Selling
was seen in the midcap and smallcap stocks
Nifty midcap 100 index was down 126 points or 0.23 per cent at 54,548 and Nifty smallcap 100 index was down 61 points or 0.37 per cent at
16,547.From a technical perspective, the Nifty 50 continues to trade in a narrow consolidation range, forming a neutral candlestick pattern
on the daily chart, said experts."A decisive move above 24,500 could pave the way for an up move towards 24,700 and 24,800
On the downside, support is seen at 24,200 and 24,000, where traders may find buying opportunities on dips," said Mandar Bhojane from Choice
Broking.On the sectoral front, auto, FMCG and private bank were major gainers
Pharma, realty, and media were major laggards.In the Sensex pack, M&M, Bharti Airtel, Bajaj Finserv, HUL, Nestle, Tata Steel, Axis Bank,
HUL, L&T, IndusInd Bank and ITC were top gainers
Sun Pharma, Tata Motors, Titan, Eternal, SBI, TCS, Bajaj Finance and Ultratech cement were major laggards.Most Asian stock markets were
Shanghai and Hong Kong were trading with gains as optimism over potential US-China trade talks boosted investors' sentiment.Other major
regional markets, including Japan and South Korea, remained shut due to public holidays
Meanwhile, US markets closed in the red in the last trading session.On the institutional front, FIIs continued their buying streak on May 5
with net equity purchases of Rs 497 crore, while DIIs remained strong buyers, investing Rs 2,788 crore.This sustained inflow from both
domestic and foreign investors reflects underlying market confidence, despite global uncertainties, said experts.(Except for the headline,
this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
