MARKET LIVE: Sensex gains 120 pts in pre-open session, Nifty nears 17,350

MARKET LIVE: Sensex gains 120 pts in pre-open session, Nifty nears 17,350
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MARKET LIVE: Sensex gains 120 pts in pre-open session, Nifty nears 17,350

Live market update: Despite tepid cues from global peers, Indian benchmark indices looked set to open on a bullish note as was trading 32 points up at 17,423 around 8.05 am. The stock-specific actvity is likely to remain high on bourses amid related flow. Further, the primary market action will also remain abuzz as the IPO by Sansera Engineering will open for second day of bidding process. It was subscribed 53 per cent on Tuesday.

Tech charts indicate that Nifty needs to sustain above 17,430 on the upside for fresh momentum, while 17,200 remains a key support level on the downside. The Sensex, on the other hand, can face resistance around 58,350-58,410, while it may seek support around 58,145-58,080.

Global Markets

US stocks declined after a less-than-forecast increase in was seen as giving Federal Reserve officials more flexibility when it comes to pulling back on stimulus. The Dow Jones index slipped 0.8 per cent while the S&P 500 and Nasdaq Composite indices declined around 0.5 per cent each on on Tuesday.


In Asia, Hong Kong’s Hang Seng led the losses in early Wednesday deals, sliding over 1 per cent. This was followed by Japan’s Nikkei (down 0.75 per cent), and Australia’s ASX200 (0.4 per cent). On the contrary, South Korea’s Kospi was up 0.08 per cent.

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