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The Indian Benchmarks opened on a flat note today amid mixed cues from global markets.
According to Gaurav Garg, Head of Research, Capitalvia Global Research Ltd, there may be some cautiousness in the market as the Federation of Indian Export Organisation (FIEO) said India’s exports growth may slow to 15-17.5 per cent in FY23.
“Market participants may (also) show concern as India has recorded 236 Omicron variant cases across 16 states over the last 24 hours,” he said.
Oil and gas industry stocks will be in focus as data showed India’s crude oil imports in November rose to their highest level in 10 months.
Traders may take note of private report that said India could generate $813 billion in revenue creating 152 million jobs with agritech and allied segments by 2030.
“Our research suggests that the levels of 16800 may act as important levels in the market. If the market sustained the levels of 16800, We can expect the market to trade in the range of 16800 - 17400,” Garg added.
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