Technical Analysis: SAMCO Securities’ Derivatives Analyst Dhupesh Dhameja observed that Nifty continues trading in a confined range. (AI image)
Stock market today
: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Wednesday, the first trading day of the
New Year
2025. While BSE Sensex rose 100 points, Nifty50 was above 23,600. At 9:31 AM, BSE Sensex was trading at 78,163.20, up 24 points or 0.031%. Nifty50 was at 23,644.25, down 1 point or 0.023%.
Indian market indices showed subdued performance on Tuesday with minor losses.
The IT and banking sectors faced downward pressure.. The year 2024 concluded with Nifty gaining 9% and Sensex advancing 8%.
LKP Securities’ Senior Technical Analyst Rupak De noted that the technical outlook remained static as the index failed to surpass significant moving averages despite recovering from a weak opening. “Sentiment appeared to have improved throughout the session. If Nifty moves above 23,700, it could advance towards 23,900-24,000. On the lower end, support is placed at 23,550,” he said.
Technical Analysis: SAMCO Securities’ Derivatives Analyst Dhupesh Dhameja observed that Nifty continues trading in a confined range, with limited price movement and recurring indecisive patterns indicating no clear direction.
US equities declined on Tuesday, marking the end of a notable year driven by artificial intelligence developments and the Federal Reserve’s first rate reductions since mid-2020.
Foreign institutional investors (FIIs) offloaded
Indian equities
valued at Rs 4,645.22 crore on Tuesday, whilst domestic institutional investors (DIIs) acquired shares amounting to Rs 4,546.73 crore, indicating contrasting investment patterns between the two institutional categories.
