Sensex, Nifty trade lower on weak global cues
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Indian frontline indices, Sensex and Nifty were trading in the red on Friday following weak global cues.
At 9.40 a.m., Sensex was down 196 points or 0.26 per cent at 76,614 and Nifty was at 23,358, down 40 points or 0.17 per cent.
Broder markets are trading with uptrend. Nifty midcap 100 is up 202 points or 0.37 per cent, at 54,841 and Nifty smallcap 100 is up 69 points or 0.39 per cent, at 17,977.
Among the sectoral indices, PSE, infra, consumption, and realty are major gainers.
Auto, IT, and Pvt banks are major losers. Titan, M&M, HUL, Asian Paints, Bajaj Finance, and Sun Pharma are the top gainers. However, Tech Mahindra, NTPC, JSW Steel, HCL Tech, and ICICI Bank are the top losers.
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd, said, "Nifty has witnessed a sluggish and gradual rise during the last four sessions finding resistance near the 23,400 - 23,450 zone with some profit booking witnessed in the second half of the trading session."
"The index has got the near-term support zone near the 23,200 zones and a decisive close above 23,400 shall trigger for further rise for the next target of 23,800 level," she added.
Mixed trading is taking place in Asian markets. Tokyo, Bangkok and Seoul are in the green, while the markets of Jakarta, Hong Kong, and Shanghai are trading in the red.
American markets closed in the red on Thursday.
Crude oil benchmark Brent crude remains at $82 per barrel and WTI at $78 per barrel.
