Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to open stronger on Friday tracking a rebound in Asian equities following a mixed session on Wall Street overnight.

The Nifty hit 2022's lowest closing low of 15,808, confirming the bearish texture. Now March's low of 15,671 becomes a line in the sand if one is contra long.

Midcap and smallcap at some point could turn into the red because there is a lot of flushing out that is left in these equities. The number of stocks at 52-week low is at 326 now against 249 yesterday.

Watch the accompanying video of CNBC-TV18’s Anuj Singhal for more details

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First Published:May 13, 2022 8:28 AM IST