Stock market today
:
BSE Sensex
and Nifty50, the Indian equity benchmark indices, gained in trade on Thursday. While BSE Sensex moved up over 150 points,
Nifty50
was near 22,650. At 9:20 AM, BSE Sensex was trading at 74,642.13, up 159 points or 0.21%. Nifty50 was at 22,640.85, up 36 points or 0.16%.
After a two-day rally, the Nifty experienced profit-taking on Tuesday.
The
US Federal Reserve
policy decision and Consumer Confidence data are expected to influence the markets on Thursday. Siddhartha Khemka, Head of Retail Research at Motilal Oswal, stated, “Overall we expect the market to continue its positive momentum supported by healthy DIIs & retail buying and the Q4 result season.”
According to an ET report, Tejas Shah of JM Financial & BlinkX noted that the immediate resistance zone is at 22,750-800 levels, with the next psychological resistance for Nifty at the 23,000 mark. The market is expected to remain volatile within the 22,300–22,800 range in the near term.
In the US, stocks closed mixed following the Federal Reserve’s decision to maintain its key interest rate. The Fed suggested that a rate cut might be the next step but emphasized that sustained progress on inflation is not guaranteed. Asian equities slipped after the Fed chair’s comments, while oil prices increased on the possibility of the US purchasing crude for its petroleum reserve.
The yen weakened in early trade on Thursday, reversing its sudden surge against the dollar overnight, which traders and analysts attributed to intervention by Japanese authorities. Vodafone Idea and Biocon are among the stocks in the F&O ban period today.
Foreign portfolio investors were net buyers at Rs 1,071 crore on Tuesday for the second consecutive day, while domestic institutional investors bought shares worth Rs 1,429 crore. The rupee recovered 2 paise to 83.43 against the US dollar on Tuesday, supported by fresh foreign capital inflows amid volatility in the domestic equity markets.
Several companies, including Adani Enterprises, Adani Ports, Dabur, and Coal India, are set to announce their fourth-quarter earnings on Thursday.
