Benchmark indices recovered after Thursday’s fall even as consumer spending in the US, the world’s largest economy, showed signs of slowing down with US retail sales data for January contracting 0.4% m-o-m.
The BSE barometer, the Sensex was trading 32.56 points higher at 20,225.91 points, while the NSE’s Nifty was trading 3.8 points higher at 6,004.90 points at 11.00 am IST on Friday ahead of the wholesale-price index (WPI) inflation data.
On Thursday, the Sensex closed at 20,193.35 points, its lowest level in more than four months, after falling 255.14 points or 1.25%.
Experts feel markets could see resistance at higher levels. “Markets could run into resistance at higher levels during the latter half of the session. Immediate support for Nifty is at 5966, while stiff resistance is at 6094 level,” HDFC Securities said in a note.
Among sectoral indices, BSE It (1.07%), BSE Consumer Durables (0.42%) and BSE Power (0.31%) were the major gainers. Shares of Tata Motors (1.81%), TCS (1.79%) and Bharti Airtel (1.60%) were trading higher on the 30-share Sensex.
Among the key Asian indices, the Hang Seng (0.49%), KOSPI (0.62%) and Shanghai Composite (0.58%) were trading higher. The Nikkei was down 1.31%.
