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Monday, April 15, 2024

Sensex and Nifty begin mutedly, with Zee and Paytm shares leading the way

<p>Thursday’s benchmark stock market indexes got off to a quiet start as energy and banking equities caused havoc in early trading.</p>
<p><img decoding=”async” class=”alignnone wp-image-430711″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-sensex-and-nifty-begin-mutedly-with-zee-and-paytm-shares-leading-the-way-msci-reji.jpg” alt=”theindiaprint.com sensex and nifty begin mutedly with zee and paytm shares leading the way msci reji” width=”995″ height=”559″ title=”Sensex and Nifty begin mutedly, with Zee and Paytm shares leading the way 12″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-sensex-and-nifty-begin-mutedly-with-zee-and-paytm-shares-leading-the-way-msci-reji.jpg 690w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-sensex-and-nifty-begin-mutedly-with-zee-and-paytm-shares-leading-the-way-msci-reji-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-sensex-and-nifty-begin-mutedly-with-zee-and-paytm-shares-leading-the-way-msci-reji-150×84.jpg 150w” sizes=”(max-width: 995px) 100vw, 995px” /></p>
<p>At 9:49 am, the Nifty50 had gained 3.15 points to trade at 22,058.20, while the S&P BSE Sensex had gained only 30.21 points to 72,653.20. In addition, broader market indexes had a poor opening due to increased volatility.</p>
<p>hefty While Nifty IT increased by around 1% and boosted the benchmark indices, Nifty sectoral indices like Nifty Bank and Nifty Financial Services were trading negatively.</p>
<p>Tech Mahindra, Axis Bank, HCLTech, Eicher Motors, and Hindalco were the top five gainers on the Nifty50. Conversely, BPCL, Bharti Airtel, Asian Paints, Dr. Reddy’s, and Power Grid were the biggest losers.</p>
<p>Zee, an individual stock, increased by about 3% in early trading and is probably going to be in the spotlight all day. The digital payments company Paytm saw a drop in its shares of more than 1.5% after four days of gains.</p>
<p>Choice Broking research analyst Deven Mehata said, “Nifty can find support at 22,000 after a gap up opening, followed by 21,950 and 21,900.” On the plus side, 22,150 may act as a barrier right away, followed by 22,200 and 22,250.</p>
<p>“The Nifty’s weekly expiry is today, and 22,000 will offer strong support.” The stop loss of $22,000 on a closing basis should be strictly followed by traders holding long positions, he said.</p>

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