Markets likely to open flat; services sector growth contracts in July

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Equity tips:-



  • Indian equity markets are likely to open flat on Friday following mixed sentiments prevailing in Asian markets. The SGX Nifty, which was trading at 10,042 unchanged, hinting at a flat start for the day.
  • Nifty50 has immediate support placed around level of 9,980 and the next support is seen around the level of 9,920. On the upside, resistance is seen around the level of 10,065 and the next resistance around the level of 10,100. 
  • Key results for the day: Apollo Tyre, Arvind, Berger Paint, Dabur, EID Parry, Fortis, M&M, Hindustan Petroleum, GSFC and Repco Home.
  • Back home, Indian markets ended lower for the second consecutive session on Thursday as private survey showed that India’s services sector contracted in July and slipped to its lowest level in nearly four years. The BSE Sensex fell 239 points to settle at 32,238 and the Nifty plunged 68 points to settle at 10,014.
  • The US stocks closed mostly lower on Thursday, though the Dow Industrial bucked the trend to close marginal higher and recorded its seventh straight record close. The Dow Jones Industrial Average added 10 points to close at 22,026, while the S&P 500 index shed 65 points to close at 2,472. The Nasdaq Composite Index declined 22 points at 6,340.
  • Majority of the Asian stocks were trading in the negative territory in early trade on Friday. Japan’s Nikkei 225 has declined 72 points. Hong Kong's Hang Seng has slipped 7 points, while China’s Shanghai Composite bucking the trend has advanced 3 points.


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