Markets may kick off with subdued numbers

19 Jul 2023 , 09:15 AM

Indian benchmark indices may start the day on a flat note amidst profit booking in most parts of domestic markets. Yesterday, markets ended on a higher note after rallying to new highs. Nifty 50 closed at 19,749. Sensex ended at 66,795.

Globally, US markets closed on the upside owing to robust bank earnings releases. Dow Jones closed 367 points higher. Nasdaq ended with a gain of 109 points. S&P 500 registered an uptick of 32 points.

Asian equities are in mixed sentiments today. Chinese Shanghai Composite was 0.29% lower. Hong Kong’s Heng Seng was down by 1.46%. Japan’s Nikkei 225 closed 0.97% higher. Taiwan index was trading flat. South Korean Kospi was trading 0.26% lower.

Nifty Bank and Nifty Midcap 50 stocks closed marginally lower.

Yesterday, Infosys, Asian Paints, HCL Tech, Reliance, and Hero MotoCorp were the biggest gainers. LTIMindtree, HDFC Life, SBI, Britannia, and Titan fell the most on nifty.

Oil prices were slightly higher in today’s earning morning trade. Rupee settled in a consolidated range with a decline of 1 paise against the greenback at 82.04.

Technical View: Nifty may find support at around 19,704 while 19,802 will act as resistance.