Mumbai, March 6
The Indian benchmark indices opened almost flat on Thursday amid mixed global cues, as selling was seen in the IT and FMCG sectors in the early trade.
At around 9.33 am, Sensex was trading 58.07 points or 0.0.08 per cent down at 73,672.16 while the Nifty declined 12.65 points or 0.06 per cent at 22,324.65.
Nifty Bank was up 205.85 points or 0.42 per cent at 48,695.80. The Nifty Midcap 100 index was trading at 49,649.70 after gaining 481.35 points or 0.98 per cent. Nifty Smallcap 100 index was at 15,429.35 after rising 128.30 points or 0.92 per cent.
According to market watchers, after a positive opening, Nifty can find support at 22,200 followed by 22,100 and 22,000. On the higher side, 22,450 can be an immediate resistance, followed by 22,550 and 22,700.
The RBI will conduct two open market operations purchases worth Rs 50,000 crore each on March 12 and March 18 and a USD/INR Buy/Sell Swap auction of 10 billion dollar for a tenor of 36 months on March 24. This will inject more liquidity into the system.
"The Nifty closed above its 5-day exponential moving average (EMA) for the first time since February 6, 2025, potentially signalling a reversal from a bearish to a bullish trend in the short term," said Devarsh Vakil, Head of Prime Research at HDFC Securities.