Nifty and Sensex dip marginally, market awaits positive opening

NSE nifty was down by 0.5 per cent or 112.86 points to 22,640.90 while the BSE Sensex was at 74,639 down by 0.53 per cent or 432 points.

• Also read:Sensex settles above 75,000-mark for first time, Nifty closes at record high

A total of 3,108 stocks were actively traded, 1,454 advanced, while 1,521 declined and 133 stocks remained unchanged where 91 stocks hit a 52 week high and six stocks hit a 52 week low at 10 am on Wednesday.

Mandar Bhojane, Research Analyst, Choice Broking, said, “Nifty is trading near its all-time high and both the daily and hourly momentum indicators have shown a positive crossover, signalling a buying opportunity. Additionally, the daily Bollinger bands have expanded, indicating increased range and with prices trending along the upper band, the possibility of sustained upward movement in the upcoming trading sessions is suggested.

Regarding resistance levels, the immediate hurdle is at 22,800, with further potential upside momentum likely towards 23,000. On the downside, support is observed at 22,650–22,600.

Foreign institutional investors (FIIs) net bought shares worth ₹2,778.17 crore, while domestic institutional investors (DIIs) purchased stocks worth ₹163.36 crore on April 10, as per provisional data from the NSE.

With Nifty and BankNifty trading at all-time highs, market participants are advised to exercise caution and adopt a more selective, stock-specific approach to their investments.”

• Also read:Sensex, Nifty edge up in early trade

Major gainers on the NSE at 10 am include, NTPC (2.90%), Tata Motors (0.84%), L&T (0.82%), Bajaj Auto (0.72%), Divi’s Lab (0.61%). Major losers include Sun Pharma (-1.65%), Grasim (-1.08%), Maruti (-1.05%), JSW Steel (-1%), Shriram Finance (-0.95%).

BSE small-cap was up by 0.096 per cent and mid-cap up by 0.22 per cent