Domestic equity markets witnessed volatility in the morning session on April 25, with Sensex and Nifty trading flat as investors awaited corporate results to assess the demand scenario in the economy. , Photo Credit: ANI
Domestic equity markets witnessed volatility in the morning session on April 25, with Sensex and Nifty trading flat as investors awaited corporate results to assess the demand scenario in the economy.
A day after reclaiming the 60,000-level, the 30-share benchmark Sensex opened in the negative territory and was trading marginally lower at 60,045.23.
In early trade, 14 Sensex stocks advanced, while 16 declined.
The 50-share Nifty was trading flat at 17,740.60 points with a slight decline. At least 25 scrips in the major indices were in the positive zone, while an equal number were in the negative zone.
Asian markets witnessed mixed trend as Japan’s Nikkei 225 was trading higher, while Hong Kong’s Hang Seng and China’s SSE Composite index were trading lower.
On April 24, European markets closed in the red, while US stocks ended on a mixed note as investors awaited financial results and fresh economic data from big tech companies amid concerns in some quarters about a possible recession.
Deepak Jasani, Head of Retail Research, HDFC Securities, said in a pre-market open note that Indian market is likely to open flat to marginally higher despite today’s massive fall in Asian markets and mixed US markets on April 24.
He said Asia-Pacific markets were largely lower on April 24 after a similar session on Wall Street, as investors were anticipating big technical earnings later this week.
Buoyed by strong buying in financial stocks, the Sensex and Nifty closed with gains on April 24, with the 30-share index reclaiming the 60,000-level.
Mitul Shah, Research Head-Institutional Desk at Reliance Securities, said in a pre-market open note, markets are thick in India and globally ahead of the earnings season.
Investors will closely analyze the quarterly numbers and management commentary on the demand scenario in the economy. Commodity prices, including Brent crude prices, will depend on the slowdown in the US and recovery in China, he added.
According to data available with BSE, foreign institutional investors (FIIs) were net sellers on April 24 as they offloaded domestic equity worth ₹412.27 crore.