Bulls are likely to maintain control whilst the index remains above 24,400, say analysts. (AI image)
Stock market today
: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Wednesday. While BSE Sensex was near the 81,000 mark, Nifty50 was above 24,450. At 9:23 AM, BSE Sensex was trading at 80,962.87, up 117 points or 0.14%. Nifty50 was at 24,492.30, up 35 points or 0.14%.
Market experts anticipate further gains in the short term, supported by positive global indicators, expectations of increased government expenditure and accommodative RBI monetary policies.
Bulls are likely to maintain control whilst the index remains above 24,400, potentially testing 24,600-24,700. Support lies at 24,400, below which correction towards 24,150 is possible, according to an ET report.
The S&P 500 and Nasdaq achieved record closings on Tuesday, driven by technology sector gains. The Dow showed marginal decline.
Asian equities declined following South Korean President Yoon Suk Yeol’s unexpected martial law announcement and subsequent reversal.
The euro showed slight gains against the US dollar on Tuesday amidst French political uncertainty.
FPIs were net buyers at Rs 3,664 crore on Monday, while DIIs sold shares worth Rs 251 crore.
FII net short position decreased from Rs 1.24 lakh crore to Rs 97,387 crore on Tuesday.
