Stock market today
:
BSE Sensex
and Nifty50, the Indian equity benchmark indices, opened in red on Friday. While BSE Sensex dipped below 81,300,
Nifty50
was near 24,750 levels. At 9:18 AM, BSE Sensex was trading at 81,244.50, down 99 points or 0.12%. Nifty50 was at 24,748.50, down 52 points or 0.21%.
The market showed resilience and confidence on Thursday, with benchmark indices reaching new highs despite initial concerns due to weak global cues.
“As far as levels are concerned, the 24500 is now expected to provide strong support, before which some cushioning to upcoming blips could be seen around the 24650 subzone,” said Ajit Mishra – SVP, Research, Religare Broking.
Nifty is approaching a key resistance level of 24960, and short-term volatility or consolidation may be expected around the 24950-25000 range, according to Nagaraj Shetti of HDFC Securities.
Global markets
showed mixed performance, with S&P 500 futures rising slightly, while Japan’s Topix and Australia’s S&P/ASX 200 fell. The euro and Japanese yen remained stable against the dollar, and the offshore yuan was little changed.
Oil prices edged higher on expectations of a potential Federal Reserve interest rate cut, which could boost oil demand. However, concerns about an economic slowdown that could dampen fuel consumption persisted.
Several stocks are in the F&O ban period today, including GMR Infra, Hindustan Copper, PEL, GNFC, India Cements, Balrampur Chini Mills, RBL Bank, Vedanta, SAIL, HAL, and Bandhan Bank.
Foreign portfolio investors turned net buyers, purchasing shares worth Rs 5,483 crore on Thursday, while domestic institutional investors sold shares worth Rs 2,904 crore.
Reliance Industries
, Wipro, Paytm, JSW Steel, and 32 other companies are set to announce their first quarter results today.
