Benchmark Indices are expected to open on a cautious note . Asian markets were down and and Dow Jones fell 500 points as speculations of rising inflation pressure prompting interest rate hikes rose, said Mohit Nigam, Head, PMS, Hem Securities.
Trends on SGX Nifty signalled a negative opening for headline indices.
At 09:02 hrs IST, the Sensex is up 109.19 points or 0.22 percent at 49271.00, and the Nifty up 5.90 points or 0.04 percent at 14856.70.
Key companies announcing their quarterly results today includes Asian paints, Lupin, UPL, Apollo Tyres, Tata Power, Borosil Renewables, Happiest Minds, Sagar cements etc.
The immediate support and resistance for Nifty 50 are 14,800 and 15,000 respectively. Nifty should close above 15,000 to continue the bullish trend, Nigam said.
Fuel prices up
The price of petrol and diesel were hiked 25 paise each. This is the third consecutive day that prices have been hiked.
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