INDIAN EQUITY MARKET OUTLOOK - 2 Apr 2018

Sensex off day's highs, Nifty trades above 10,100; Canara Bank down 2%

The market has begun this new financial year on a positive note, with the Nifty trading above 10,100 in the opening tick, while the Sensex gained around 100 points and is hovering around those levels.

Among stocks, ICICI Bank is down around 4 percent, while Axis Bank is also trading lower by around 1 percent. Canara Bank fell around 2 percent after it cancelled its stake sale in Can Fin Homes. The market also saw two debutants this morning—Sandhar Technologies and Karda Constructions.

Pre-opening rates for the market in the new financial year have kicked in. The Nifty is trading flat, while the Sensex is seen lower by over 100 points.

ICICI Bank is down around 10 percent, while Axis Bank is down around 4 percent.

The Nifty which is still struggling to reclaim its 200-days moving average could see a pullback rally first and then retest 9800 kind of levels led by fall in global markets,

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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