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Sensex and Nifty 50 set for a muted open on weak global cues

Gift Nifty was around 24,210, about 20.1 points below the prior Nifty futures close, after both benchmarks fell in the previous session.

Reported · Written up by our desk · Asia

Indian stock benchmarks Sensex and Nifty 50 are expected to open flat on Wednesday, 19 August, as weak global cues weigh on sentiment. LiveMint Markets reports that Gift Nifty indicated a muted start, trading around 24,210 and reflecting a 20.1-point discount to the Nifty futures’ previous close.

In the prior session, both indices ended lower. The Sensex fell 492.7 points, or 0.63%, to close at 77,235.46, while the Nifty 50 dropped 132.75 points, or 0.55%, to settle at 24,154.90.

Technical research cited by LiveMint Markets pointed to ongoing selling pressure and deterioration in near-term structure. Choice Equity Broking’s Sachin Gupta said the index opened with a 309-point gap down, faced sustained selling around 77,500, and that the close below the 50-Day EMA signals weaker short-term conditions, with 76,800 to 77,000 emerging as a crucial support zone.

Angel One’s Hitesh Rathi said the Nifty 50 slipped below the 50-DEMA, indicating a shift in control from buyers to sellers. He flagged the 24,050 to 24,040 area as key support, supported by the 61.8% Fibonacci retracement of the previous upswing from 23,600 and a bullish gap near 24,040.

Latest closeSensex 78,079.96 ▲0.1%

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