Sensex Today Live Updates : Sensex, Nifty down at pre-open, tracking weak global cues; ABFRL, Amara Raja, Wockhardt eyed
ABFRL, Amara Raja, Tata Steel, Brigade, NBCC, Wockhardt, are a few stocks likely to be in focus on Wednesday, May 29.Sensex Today Live : The Indian stock market, represented by the Sensex and Nifty 50 indices, is set to continue its downward trend and open lower on Wednesday, influenced by weak global indicators.The Gift Nifty, a key indicator of the Indian benchmark index, also signals a negative start, trading around the 22,830 level. This represents a nearly 90-point discount from the previous close of Nifty futures.On Tuesday, the Indian equity market extended its losing streak for the third consecutive session.
The Sensex fell by 220.05 points, closing at 75,170.45, while the Nifty 50 ended 44.30 points or 0.19% lower at 22,888.15.The Nifty 50 formed a bearish candlestick pattern on the daily charts, indicating a lower top lower bottom formation. Despite this, Subash Gangadharan, Senior Technical/Derivative Analyst at HDFC Securities, remains optimistic.
He notes that the Nifty continues to hold above the 20 and 50-day Simple Moving Average (SMA). The 14-day Relative Strength Index (RSI) at 64.53, although it has eased in the last two sessions, is still rising and not overbought, which Gangadharan finds encouraging.
(Read the full story here.)Sensex Today Live : The Indian stock market is bracing for a dip in the opening trade on Wednesday, with the benchmark indices, Sensex and Nifty 50, projected to start lower due to weak global indicators.Mixed trading patterns were observed in Asian markets, while US markets also closed unevenly. Notably, the Nasdaq reached a new milestone, crossing the 17,000 mark for the first time.
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