Equity indices in green; auto, IT stock rise
Mumbai, September 25, 2020
A day after crashing around three per cent, the key Indian equity indices traded on a positive note on Friday morning.
Healthy buying was witnessed in auto, IT and FMCG stocks.
The Asian stock markets too largely traded on a positive note.
Around 10.15 a.m., the BSE Sensex was trading at 36,809.11, higher by 255.51 points or 0.70 per cent from the previous close of 36,553.60.
It opened at 36,991.89 and has so far touched an intra-day high of 37,034.22 and a low of 36,754.92 points.
The Nifty50 on the National Stock Exchange was trading at 10,888.95, higher by 83.40 points or 0.77 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The Nifty has opened in the green and traders can utilise this opportunity to strategise short positions as the index remains in a weak zone."
"We could witness a target of 10,750 during the course of the October series. If we are unable to hold that level, the Nifty could further slide to 10,600. The resistance zone on the upside is at 11,550-11,600," he said.