- August 29, 2024
Stock market today: BSE Sensex opens in red; Nifty50 above 25,000 – Times of India
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Thursday. While BSE Sensex was above 81,700, Nifty50 was above 25,000. At 9:18 AM, BSE Sensex was trading at 81,717.61, down 68 points or 0.083%. Nifty50 was at 25,034.90, down 17 points or 0.070%.
The Indian stock market reached a new high on Wednesday, with the Nifty closing at 25,052 points after making a fresh high of 25,129.Analysts expect the market to continue its gradual uptick, supported by FII inflows and healthy domestic macros, although volatility is expected on Thursday due to monthly derivatives expiry. The key event to watch out for is the US Q2 Projected GDP Data, says Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Technical analysis indicates a potential upside target of 25,360 levels in the near term, with immediate support around 24,800-24,750 levels, says Nagaraj Shetti of HDFC Securities.
U.S. stocks fell on Wednesday ahead of Nvidia’s quarterly report, which could significantly impact the AI-driven rally. Asian stocks followed suit, with major indices trading lower. Oil prices held mostly steady, while the dollar steadied after steep losses in previous sessions. Traders are looking ahead to the U.S. inflation reading at the end of the week for further clues on the outlook for rates.
In the Indian market, Bandhan Bank, Granules, India Cement, and Hindustan Copper are in the F&O ban period today. Foreign portfolio investors turned net sellers at Rs 1,347 crore on Wednesday, while DIIs sold shares worth Rs 439 crore. The net long of FIIs increased from Rs 86,286 crore on Tuesday to Rs 1.34 lakh crore on Thursday.
The Indian stock market reached a new high on Wednesday, with the Nifty closing at 25,052 points after making a fresh high of 25,129.Analysts expect the market to continue its gradual uptick, supported by FII inflows and healthy domestic macros, although volatility is expected on Thursday due to monthly derivatives expiry. The key event to watch out for is the US Q2 Projected GDP Data, says Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Technical analysis indicates a potential upside target of 25,360 levels in the near term, with immediate support around 24,800-24,750 levels, says Nagaraj Shetti of HDFC Securities.
U.S. stocks fell on Wednesday ahead of Nvidia’s quarterly report, which could significantly impact the AI-driven rally. Asian stocks followed suit, with major indices trading lower. Oil prices held mostly steady, while the dollar steadied after steep losses in previous sessions. Traders are looking ahead to the U.S. inflation reading at the end of the week for further clues on the outlook for rates.
In the Indian market, Bandhan Bank, Granules, India Cement, and Hindustan Copper are in the F&O ban period today. Foreign portfolio investors turned net sellers at Rs 1,347 crore on Wednesday, while DIIs sold shares worth Rs 439 crore. The net long of FIIs increased from Rs 86,286 crore on Tuesday to Rs 1.34 lakh crore on Thursday.
