Mumbai: The key Indian equity indices traded on a negative note on Friday with the BSE Sensex falling over 100 points.
Selling pressure was witnessed in banking and finance stocks.
Around 10.10 a.m., Sensex was trading at 49,518.63, lower by 106.13 points or 0.21 per cent from its previous close of 49,624.76.
It opened at 49,594.95 and has so far touched an intra-day high of 49,663.74 and a low of 49,361.22 points.
The Nifty50 on the National Stock Exchange was trading at 14,574.60, lower by 15.75 points or 0.11 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The Nifty has become slightly nervous after facing resistance at 14,750. While the trend still remains positive, we need to approach the index strategically.”
“On the upside, we can go up to 14,800-14,900. On the downside, we have a good support at 14,300. Hence traders can initiate long positions with a target of 14,800 and a stop below 14,300,” he said.