Nifty slips in red after opening at record high of 9,377

Nifty 50 today hit new record high of 9,377 against its previous milestone of 9,367 hit on April 26, for a while before slipping below 9,350 tracking muted handover from global markets. Wall Street ended flat after Representatives narrowly approved a bill to repeal Obamacare, handing Republican President Donald Trump a victory that could prove short-lived as the healthcare legislation heads into a likely tough battle in the Senate. Back home, President Pranab Mukherjee signed a NPA ordinance last night, according to media reports. The Finance Minister will also hold a press conference to announce the new framework for NPAs later in the day.  Commodity Trading Tips

At 9:17 am, the S&P BSE Sensex was trading at 30,061, down 65 points, while the broader Nifty50 was ruling at 9,344, down 15 points. In the broader market, the S&P BSE Midcap shed 0.1% while the S&P BSE Smallcap iindex gained 0.1%."The 9,330 region will continue to be important for Nifty50, but for the day, 9,370 will be critical to positivity, unless above which, downside risks will increase," said Geojit Financial Services in a note. Meanwhile, Oil prices were marooned near five-month lows on Friday after a near 5% fall in the previous session on concerns over rising US supply, wiping out all of the price gains since OPEC's move to curb output.  Nifty Trading Tips