Sensex in green amid choppy trade, IT stocks rise
The key Indian equity indices pared initial losses on Monday morning, to trade marginally higher amidst choppy trade.
IT stocks witnessed healthy buying, while auto and telecom stocks witnessed heavy selling pressure.
Around 10.40 a.m., Sensex was trading at 38,940.06, higher by 94.24 points or 0.24 per cent from its previous close of 38,845.82.
It opened at 38,812.69 and has so far touched an intra-day high of 38,990.76 and a low of 38,776.19 points.
The Nifty50 on the National Stock Exchange (NSE) was trading at 11,522.15, higher by 17.20 points or 0.15 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: “Nifty is trying to keep above the 11,500 level. We are in expiry week and it is important we respect the levels of 11,300-11,350 as that is where the support levels are currently. On the upside, a target of 11,800 is still achievable this month.”