Stock market today: BSE Sensex near 80,800; Nifty50 above 24,600
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Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Tuesday after record closing highs in the previous session. While BSE Sensex was close to 80,800, Nifty50 was above 24,600. At 9:17 AM, BSE Sensex was trading at 80,795.61, up 131 points or 0.16%. Nifty50 was at 24,619.30, up 33 points or 0.13%.
The domestic markets started the week on a positive note, continuing the gains from the previous week as indices reached new highs on Monday.
The near-term trend of Nifty remains positive, and with the index sustaining above the 24,400 level, there is a higher possibility of a gradual uptick towards 24,950 in the coming week, according to Nagaraj Shetti of HDFC Securities. The immediate support level is at 24,450.
Ajit Mishra, SVP of Research at Religare Broking, said, “We maintain a positive outlook and recommend a “buy on dips” strategy. In addition to favorable domestic factors, positive global cues are boosting sentiment. Traders should continue to focus on stock selection and trade management.”.
In global markets, S&P 500 futures rose 0.1%, while Hang Seng futures fell 1%. Japan’s Topix rose 0.3%, Australia’s S&P/ASX 200 fell 0.1%, and Euro Stoxx 50 futures fell 1.3%.
Wall Street closed higher on Monday, extending the gains from Friday’s rally. The optimism was fueled by the potential for another term for Donald Trump following an unsuccessful assassination attempt, which could lead to less stringent regulations. Additionally, the increasing likelihood of the Federal Reserve cutting its main interest rate as early as September boosted investor confidence in taking on more risk.
In the forex market, the euro, Japanese yen, and offshore yuan remained relatively stable against the US dollar.
Oil prices edged lower on Tuesday due to concerns over a weakening Chinese economy potentially reducing demand. However, expectations of a potential Fed rate cut in September helped to limit the decline. Brent futures slipped to $84.76 per barrel, while WTI crude decreased to $81.78.
Foreign portfolio investors were net buyers, investing Rs 2,685 crore on Monday, while domestic institutional investors sold shares worth Rs 331 crore.
The net long position of foreign institutional investors increased from Rs 3.27 lakh crore on Friday to Rs 3.47 lakh crore on Monday.
Several companies, including Bajaj Auto, L&T Finance, and Just Dial, are set to announce their first-quarter results.
The domestic markets started the week on a positive note, continuing the gains from the previous week as indices reached new highs on Monday.
The near-term trend of Nifty remains positive, and with the index sustaining above the 24,400 level, there is a higher possibility of a gradual uptick towards 24,950 in the coming week, according to Nagaraj Shetti of HDFC Securities. The immediate support level is at 24,450.
Ajit Mishra, SVP of Research at Religare Broking, said, “We maintain a positive outlook and recommend a “buy on dips” strategy. In addition to favorable domestic factors, positive global cues are boosting sentiment. Traders should continue to focus on stock selection and trade management.”.
In global markets, S&P 500 futures rose 0.1%, while Hang Seng futures fell 1%. Japan’s Topix rose 0.3%, Australia’s S&P/ASX 200 fell 0.1%, and Euro Stoxx 50 futures fell 1.3%.
Wall Street closed higher on Monday, extending the gains from Friday’s rally. The optimism was fueled by the potential for another term for Donald Trump following an unsuccessful assassination attempt, which could lead to less stringent regulations. Additionally, the increasing likelihood of the Federal Reserve cutting its main interest rate as early as September boosted investor confidence in taking on more risk.
In the forex market, the euro, Japanese yen, and offshore yuan remained relatively stable against the US dollar.
Oil prices edged lower on Tuesday due to concerns over a weakening Chinese economy potentially reducing demand. However, expectations of a potential Fed rate cut in September helped to limit the decline. Brent futures slipped to $84.76 per barrel, while WTI crude decreased to $81.78.
Foreign portfolio investors were net buyers, investing Rs 2,685 crore on Monday, while domestic institutional investors sold shares worth Rs 331 crore.
The net long position of foreign institutional investors increased from Rs 3.27 lakh crore on Friday to Rs 3.47 lakh crore on Monday.
Several companies, including Bajaj Auto, L&T Finance, and Just Dial, are set to announce their first-quarter results.
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