Sensex, Nifty trade higher on positive global cues

Mumbai, July 1: Indian equity indices opened in the green on Monday following positive global cues. At 9:40 a.m., Sensex was at 79,197, up 165 points or 0.21 per cent and Nifty was at 24,069, up 58 points or 0.22 per cent.

Midcap and smallcap stocks lead the market. The Nifty midcap 100 is up 237 points or 0.43 per cent, at 55,984 and the Nifty smallcap 100 is up 161 points or 0.88 per cent, at 18,478.

Among the sectoral indices, Auto, IT, Metal, and Media are major gainers. Realty, PSU Bank and Energy are major laggards.

Overall market breadth remains positive. On the National Stock Exchange (NSE), Out of the total shares 1,631 are in the green and 601 are in the red.

In the Sensex pack, JSW Steel, Tech Mahindra, Maruti Suzuki, HUL, TCS, Wipro, Bharti Airtel, Tata Steel, Nestle and HDFC Bank are top gainers. NTPC, Power Grid, L&T, Sun Pharma, and SBI are top losers.

Deven Mehata, Research Analyst at Choice Broking said, "Nifty can find support at 23,900 followed by 23,850 and 23,800. On the higher side, 24,100 can be an immediate resistance, followed by 24,200 and 24,250."

"The charts of Bank Nifty indicate that it may get support at 52,200, followed by 52,000 and 51,900. If the index advances further, 52,500 would be the initial key resistance, followed by 52,650 and 52,800," Mehata added.

Most Asian markets are bullish. The markets of Tokyo, Shanghai, Hong Kong, Jakarta, and Seoul are in the green. American markets closed in the red on Friday. Crude oil benchmark Brent crude remains at $85 per barrel and WTI crude at $82 per barrel.