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Sensex in red amid choppy trade session, weak Asian cues
Mumbai, August 7, 2020
The key Indian equity indices traded in the negative on Friday morning amid a largely choppy trade session and decline in the Asian markets.
At 10.23 am, Sensex was trading at 37,958.84, lower by 66.61 points or 0.18 per cent from its previous close of 38,025.45.
It opened at 37,951.07 and had touched an intra-day high of 38,044.17 and a low 37,787.38 points at the time of filing of the report.
The Nifty50 on the National Stock Exchange was trading at 11,188.45, lower by 11.70 points or 0.10 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments, said: "Nifty opened below the 11,200 level, which indicates that the markets are still not fully convinced on the upside. We need to get past and close above 11,200 for the markets to enter a bullish zone.
"On the downside, a close watch needs to be kept for 11,100 level, the breaking of which can derail the market direction and we could see some correction," he said.