- July 8, 2024
Stock market today: BSE Sensex dips over 200 points; Nifty50 near 24,300 – Times of India
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Monday. While BSE Sensex fell over 200 points, Nifty50 was near 24,300 levels. At 9:19 AM, BSE Sensex was trading at 79,815.45, down 181 points or 0.23%. Nifty50 was at 24,297.40, down 26 points or 0.11%.
The benchmark indices closed with minor gains on Friday, but the overall week was positive.Analysts expect the market to consolidate at a higher zone after a 7% run-up in the last month.
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said, “In this week, we expect stock and sector-specific action as the market starts taking cues from Q1FY25 earnings. On the macro front, investors will look out for inflation data that will be released by India, the US, and China.”
Nagaraj Shetti of HDFC Securities notes that the underlying trend of Nifty remains positive, with a possibility of an upside breakout hurdle around 24400-24500 levels in the next few sessions. Immediate support is at 24170 levels, he says.
Global markets showed mixed trends, with S&P 500 futures falling 0.2%, Hang Seng futures down 0.3%, Japan’s Topix falling 0.4%, and Australia’s S&P/ASX 200 down 0.4%. Euro Stoxx 50 futures were little changed. In the forex market, the euro fell 0.2% to $1.0823, while the Japanese yen and offshore yuan remained stable.
Oil prices were little changed as investors monitored energy supply disruption, with the largest ports in Texas shut before Tropical Storm Beryl likely strengthens into a hurricane and makes landfall on Monday. Brent crude futures inched up 11 cents, or 0.1%, to $86.65 a barrel as at 0042 GMT after closing down 89 cents on Friday.
Several stocks are in the F&O ban period today, including India Cements, Hindustan Copper, ABFRL, Bandhan Bank, PEL, and GNFC. Foreign portfolio investors turned net buyers at Rs 1,241 crore on Friday, while DIIs sold shares worth Rs 1,651 crore. The net long of FIIs reduced from Rs 3.92 lakh crore on Thursday to Rs 3.84 lakh crore on Friday.
The benchmark indices closed with minor gains on Friday, but the overall week was positive.Analysts expect the market to consolidate at a higher zone after a 7% run-up in the last month.
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said, “In this week, we expect stock and sector-specific action as the market starts taking cues from Q1FY25 earnings. On the macro front, investors will look out for inflation data that will be released by India, the US, and China.”
Nagaraj Shetti of HDFC Securities notes that the underlying trend of Nifty remains positive, with a possibility of an upside breakout hurdle around 24400-24500 levels in the next few sessions. Immediate support is at 24170 levels, he says.
Global markets showed mixed trends, with S&P 500 futures falling 0.2%, Hang Seng futures down 0.3%, Japan’s Topix falling 0.4%, and Australia’s S&P/ASX 200 down 0.4%. Euro Stoxx 50 futures were little changed. In the forex market, the euro fell 0.2% to $1.0823, while the Japanese yen and offshore yuan remained stable.
Oil prices were little changed as investors monitored energy supply disruption, with the largest ports in Texas shut before Tropical Storm Beryl likely strengthens into a hurricane and makes landfall on Monday. Brent crude futures inched up 11 cents, or 0.1%, to $86.65 a barrel as at 0042 GMT after closing down 89 cents on Friday.
Several stocks are in the F&O ban period today, including India Cements, Hindustan Copper, ABFRL, Bandhan Bank, PEL, and GNFC. Foreign portfolio investors turned net buyers at Rs 1,241 crore on Friday, while DIIs sold shares worth Rs 1,651 crore. The net long of FIIs reduced from Rs 3.92 lakh crore on Thursday to Rs 3.84 lakh crore on Friday.
