Stock market today
: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Thursday. While BSE Sensex was above 82,500, Nifty50 was over 25,200. At 9:16 AM, BSE Sensex was trading at 82,532.49, up 180 points or 0.225. Nifty50 was at 25,247.60, up 49 points or 0.19%.
The equity markets experienced minor losses on Wednesday due to global concerns, despite gains in the previous two weeks.
Analysts, however, noted that buying at lower levels demonstrates the resilience of domestic equities amidst global volatility.
“We expect the Nifty to consolidate at a higher zone with intermittent volatility as key US economic data are lined up this week. Defensive sectors like FMCG & Pharma are likely to remain in focus,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
The near-term uptrend for Nifty remains intact, and any consolidations or minor dips to the 25K mark are expected to be buying opportunities, with the potential for Nifty to reach new all-time highs around 25350-25400, ET quoted market experts as saying.
Global markets
showed mixed performance, with S&P 500 futures remaining stable, Hang Seng futures rising slightly, Japan’s Topix falling, Australia’s S&P/ASX 200 rising, and Euro Stoxx 50 futures falling. The forex market saw little change in the euro and offshore yuan, while the Japanese yen rose slightly against the dollar.
Oil prices attempted to stabilize following an overnight decline, with Brent crude and WTI futures showing modest increases. Market participants are grappling with low demand and the potential postponement of additional supply entering the market next month.
Foreign portfolio investors turned net buyers, purchasing shares worth Rs 975.46 crore on Wednesday, while domestic institutional investors bought shares worth Rs 97 crore.
