Stock market today: BSE Sensex surges over 900 points; Nifty50 above 24,300
[ad_1]
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in opening trade on Tuesday after a huge fall the previous day. While BSE Sensex moved above 79,600 levels, Nifty50 was above 24,300. At 9:16 AM, BSE Sensex was trading at 79,679.64, up 920 points or 1.17%. Nifty50 was at 24,329.80, up 274 points or 1.14%.
Following the sell-off in global equities, Indian markets experienced a significant decline of nearly 3% on Monday, reflecting investors’ concerns about the US economic slowdown.
“Going forward, we expect volatility to continue ahead of RBI Policy and multiple global headwinds, including the unwinding of Yen carry trades, recession fears in the US, and escalating tensions in the Middle East. The US slowdown is a bigger concern and sooner or later the US Fed will bite the bullet of interest rate cuts which should provide relief in the current environment,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
According to Nagaraj Shetti of HDFC Securities, the short-term trend of Nifty remains sharply down, and the overall chart pattern from smaller to larger time frames appears weak.
Global markets, including S&P 500 futures, Hang Seng futures, Nikkei 225 futures, Australia’s S&P/ASX 200, and Euro Stoxx 50 futures, showed positive movements.
In the forex market, the euro remained stable at $1.0956, while the Japanese yen fell 0.8% to 145.40 per dollar. The offshore yuan was little changed at 7.1435 per dollar. Oil prices climbed more than $1 on Tuesday, with Brent crude futures gaining 1.6% to $77.55 a barrel and U.S. West Texas Intermediate crude futures climbing 1.9% to $74.29, as concerns about potential supply disruptions in the Middle East outweighed fears of a possible U.S. recession.
Several stocks, including India Cements, Granules, BirlaSoft, Indiamart, RBL Bank, GNFC, Chambal Fertilisers, and Hindustan Copper, are under the F&O ban period today.
Foreign portfolio investors turned net sellers, offloading shares worth Rs 10,073 crore on Monday, while domestic institutional investors bought shares worth Rs 9,155 crore.
Notable companies such as PFC, Vedanta, Tata Power, TVS Motor, and Shree Cements, among 132 others, are set to announce their first-quarter results on Tuesday.
Following the sell-off in global equities, Indian markets experienced a significant decline of nearly 3% on Monday, reflecting investors’ concerns about the US economic slowdown.
“Going forward, we expect volatility to continue ahead of RBI Policy and multiple global headwinds, including the unwinding of Yen carry trades, recession fears in the US, and escalating tensions in the Middle East. The US slowdown is a bigger concern and sooner or later the US Fed will bite the bullet of interest rate cuts which should provide relief in the current environment,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
According to Nagaraj Shetti of HDFC Securities, the short-term trend of Nifty remains sharply down, and the overall chart pattern from smaller to larger time frames appears weak.
Global markets, including S&P 500 futures, Hang Seng futures, Nikkei 225 futures, Australia’s S&P/ASX 200, and Euro Stoxx 50 futures, showed positive movements.
In the forex market, the euro remained stable at $1.0956, while the Japanese yen fell 0.8% to 145.40 per dollar. The offshore yuan was little changed at 7.1435 per dollar. Oil prices climbed more than $1 on Tuesday, with Brent crude futures gaining 1.6% to $77.55 a barrel and U.S. West Texas Intermediate crude futures climbing 1.9% to $74.29, as concerns about potential supply disruptions in the Middle East outweighed fears of a possible U.S. recession.
Several stocks, including India Cements, Granules, BirlaSoft, Indiamart, RBL Bank, GNFC, Chambal Fertilisers, and Hindustan Copper, are under the F&O ban period today.
Foreign portfolio investors turned net sellers, offloading shares worth Rs 10,073 crore on Monday, while domestic institutional investors bought shares worth Rs 9,155 crore.
Notable companies such as PFC, Vedanta, Tata Power, TVS Motor, and Shree Cements, among 132 others, are set to announce their first-quarter results on Tuesday.
Hindi 
English