Indian stocks cool after early gains as investors lock profits
Business
Indian stock markets cooled off on Thursday after an early rise, thanks to investors locking in profits and some not-so-great signals from global markets.
By early afternoon, the Sensex was up 159.43 points at 77,344.86, while the Nifty edged up to 24,112.45, though both had slipped from their highs.
Overall, more stocks were gaining than losing.
Analysts watch Nifty 24,200 level
The drop came as Asian markets took a hit, especially South Korea's Kospi, which tumbled more than 6% after big losses in chipmaker stocks.
Analysts say all eyes are now on the Nifty's 24,200 mark; if it breaks above that level soon, we could see another rally.
Until then, expect some cautious moves ahead.