The Biz Reporter
Mumbai, Feb 27: The benchmark Sensex and Nifty indices are expected to open higher today as indicated by the positive trend in SGX Nifty futures trading 74 points up.
Yesterday, the markets closed lower amid broad-based selling barring oil & gas, power and capital goods stocks. The Sensex closed 352 points lower at 72,790 while the Nifty settled 91 points down at 22,122.
As per the pivot point calculator, the Nifty has an immediate support at 22,085 followed by 22,055 and 22,006. On the upside, the index has an immediate resistance at 22,182 followed by 22,212 and 22,260.
Top 10 things to know before market opens today:
- SGX Nifty futures were trading 74 points or 0.33% higher at 22,287, indicating a gap-up start for the domestic equities.
- Asian markets are trading mixed today as investors assess economic uncertainties and geopolitical tensions. Nikkei and Kospi were down while Hang Seng traded higher.
- US stocks closed lower overnight as economic data spurred concerns over the Fed’s rate hikes. Dow Jones fell 0.5%, S&P 500 declined 0.2% while Nasdaq dropped 0.1%.
- Crude oil prices edged higher with Brent trading at $83 per barrel. Appreciating crude prices may weigh on markets.
- Rupee closed flat at 82.81 per dollar on Monday amid strong dollar. FII outflows remain a concern.
- FII’s net sold Rs 1,157 crore worth of equities on Monday while DIIs bought Rs 1,163 crore.
- Nifty support at 22,000 and resistance at 22,500. Bank Nifty support at 40,500 and resistance at 41,500.
- Results today: BPCL, UPL, Punjab National Bank, Union Bank, Apollo Hospitals, Crompton, CG Power, Emami among others.
- F&O expiry of the February series this week on Thursday may add to volatility.
- Q3 GDP data scheduled this evening will be keenly watched by investors.
