Stock market today
: Indian equity benchmark indices,
BSE Sensex
and Nifty50, opened in green for trade on Monday. While BSE Sensex climbed above 80,600,
Nifty50
was near 24,600. At 9:16 AM, BSE Sensex was trading at 80,664.61, up 228 points or 0.28%. Nifty50 was at 24,628.20, up 87 points or 0.35%.
This week will be focused on the release of the US Fed meeting minutes, with analysts anticipating market consolidation within a wider range, influenced by global factors.
Nagaraj Shetti of HDFC Securities suggests that Nifty is approaching the resistance level of the previous significant opening downside gap from August 5th, which is expected to be filled soon around 24,700 levels. The immediate support level is at 24,350, with the next upside targets being 24,700 and 25,000 in the near term.
In the
global markets
, S&P 500 futures rose 0.2%, Hang Seng futures gained 0.9%, while Nikkei 225 futures and Japan’s Topix remained relatively unchanged. Australia’s S&P/ASX 200 was also stable, and Euro Stoxx 50 futures increased by 0.2%. The forex market saw the euro holding steady at $1.1026, the Japanese yen falling 0.2% to 147.93 per dollar, the offshore yuan remaining unchanged at 7.1634 per dollar, and the Australian dollar rising 0.2% to $0.6684.
Oil prices experienced a slight decline in early Asian trading on Monday due to concerns over weaker demand in China, the top oil importer. Investors are also closely monitoring the progress of ceasefire talks in the Middle East, which could potentially reduce supply risks. Brent crude futures dropped 13 cents, or 0.2%, to $79.55 per barrel, while U.S. West Texas Intermediate crude futures slid 13 cents, or 0.2%, to $76.52 a barrel.
Several stocks are under the F&O ban today, including India Cements, Chambal Fertilisers, GNFC, Indiamart, RBL Bank, Sun TV, Aarti Industries, ABFRL, Manappuram, LIC Housing Finance, PNB, Granules, SAIL, Bandhan Bank, Biocon, NMDC, and PEL. These securities have crossed 95% of the market-wide position limit.
Foreign portfolio investors (FPIs) turned net buyers, purchasing shares worth Rs 766 crore on Friday, while domestic institutional investors (DIIs) bought shares worth Rs 2606 crore. The net short position of FIIs turned from Rs 30,547 crore on Wednesday to a net long position of Rs 4259 crore on Friday.
