Sensex, Nifty trade lower on weak global cues

Mumbai, July 19
Indian equity indices opened in the red on Friday following weak global cues from Asian peers.

At 9:45 a.m., Sensex was at 81,196, down 146 points or 0.18 per cent and Nifty was down 75 points or 0.34 per cent, at 24,716.

The broader market trend is negative. On the National Stock Exchange (NSE), 1651 shares are in red and 526 shares in green.

Selling pressure is also seen in midcap and smallcap stocks. The Nifty Midcap 100 index is down 591 points or 1.03 per cent at 56,520 and the Nifty Smallcap 100 index is at 18,661 points, down 167 points or 0.89 per cent.

Deven Mehata, Research Analyst at Choice Broking said, "Nifty can find support at 24,700 followed by 24,650 and 24,600. On the higher side, 24,850 can be an immediate resistance, followed by 24,900 and 25,000."

on Thursday, Infosys reported a good number compared to estimates.

Infosys, Asian Paints, ITC, Nestle, HCL Tech, Kotak Mahindra Bank and HDFC Bank are the top gainers in the Sensex pack. Tech Mahindra, Tata Steel, UltraTech Cement, JSW Steel and Wipro are the top losers.

There is a decline in Asian markets. Tokyo, Hong Kong, Shanghai, Bangkok, Seoul and Jakarta are trading in the red. The American market also closed in the red on Thursday.

The foreign institutional investors (FIIs) bought equities worth Rs 5,483 crore, while domestic institutional investors sold equities worth Rs 2,904 crore on July 18.