Opening Bell: Sensex, Nifty trade sideways on neutral global sentiments; Energy, IT and tech stocks gain

The market is range-bound. Nifty is trading in the range of 11,560 to 11,750. Equity experts advise investors to buy on dips as overall the market is bullish.

Equity market investors are advised to adopt buy on dips strategy as the Indian indices are range bound, say experts. Photo: PTI

On account of neutral foreign institutional investors (FIIs) and investors awaiting the January to March earnings data, i.e. first quarter data the Indian indices trade tepid in early morning trade session on Friday. The BSE Sensex rose 74 points to 38,681 levels while Nifty went up 21 points to 11,618 levels. Stocks from the IT and Tech sector were among the major gainers in early morning trade.

Explaining the current market trend and strategy that an investor can adopt while investing SEEBI registered technical equity expert Simi Bhaumik told Zee Business, "The market is range-bound. Nifty is trading in the range of 11,560 to 11,750. I will advise investors to buy on dips as overall the market is bullish."

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Taking cue from the Wall Street, Asian stocks to witnessed a sideways trend in the early morning session. Japan's Nikkei 225 edged 0.45 per cent higher, South Korean Kospi nudged 0.09 per cent up, Hang Seng went down 0.25 per cent while the Shanghai index was down 0.44 per cent.

The BSE IT index went up around 0.5 per cent from the previous close. IT major Genesys International Corporation shot up over 3.5 per cent, shares of Kellton Tech Solutions went up 1.2 per cent, MphasiS counter was up 1.45 per cent, NIIT stocks surged 1.8 per cent, Rolta India scrip went up 2.25 per cent while Infosys and Wipro stocks went northward over half a per cent.

At Wall Street, Dow Jones nudged down 0.05 per cent while Nasdaq closed 0.21 per cent down. The SmallCap 2000 index at Wall Street went down 0.1 per cent.

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