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Sensex up by 466 points, Nifty climbs over 22,050

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Mumbai, May 10:  Indian stock indices are in green on Friday, after a range-bound opening. At 9:50 a.m., Sensex was up by 466 points, or 0.64 per cent at 72,871 points, and Nifty was up by 138 points, or 0.64 per cent at 22,096 points.

Compared to the largecap, midcap, and smallcap indices are underperforming. Nifty Midcap 100 is down 2.10 points at 49,107, and Nifty Smallcap 100 is down 3.90 points at 15,991.

The Indian Volatility Index (India VIX) is down nearly 1 per cent at 18 points.

Sectorally, Nifty FMCG is the top gainer, up by 1.30 per cent, while Nifty Pharma and Nifty Energy indices are up by 0.94 per cent and 0.86 per cent, respectively.

Nifty Realty and Nifty IT are down by 0.07 per cent and 0.42 per cent respectively.

Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt Ltd, said, “Nifty index, after witnessing a double top formation near the 22800 zone, has slipped quite significantly with profit booking eroding the gains and currently has breached below the important 100-period MA at the 22000 level with bias and sentiment maintained with a cautious approach and has the next significant support near the 21750 level.”

“With the overall bias and sentiment precariously placed, it would need a decisive move above the important 50EMA level of 22250 to improve the situation from current levels and thereafter anticipate a further rise,” she added.

IANS

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