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HomeLatest NewsStock market today: BSE Sensex opens in green; Nifty50 above 24,000 mark

Stock market today: BSE Sensex opens in green; Nifty50 above 24,000 mark

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Monday. While BSE Sensex was above the 79,000 mark, Nifty50 was over 24,000. At 9:16 AM, BSE Sensex was trading at 79,071.24, up 39 points or 0.049%. Nifty50 was at 24,034.65, up 24 points or 0.10%.
Last week, equity markets continued their upward trend for the third straight week, with Nifty reaching new highs.However, the index faced some pressure at higher levels due to profit booking.
“We expect this positive momentum to continue at a steady pace with stock-specific action. However, the release of economic data points this week would keep a little volatility in the market. Sector like Auto is expected to be in the limelight as OEMs would release their monthly auto Sales number,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
According to Nagaraj Shetti of HDFC Securities, Nifty is currently facing resistance at 24000-24100 levels, and any dip from here is likely to be a buying opportunity, with immediate support at 23800 levels.
U.S. stocks closed lower on Friday after an early rally fizzled out, as investors analyzed in-line inflation data and weighed political uncertainty following the U.S. presidential debate. Nike experienced its steepest one-day fall in over two decades after issuing a gloomy forecast.
Asian stocks were subdued on Monday as traders considered the U.S rates outlook, while the euro edged higher after the far-right won a smaller share of the vote in the first round of France’s shock snap election than some polls had projected.
India Cements and Indus Tower are in the ban period under the F&O segment, as they have crossed 95% of the market-wide position limit.
Foreign portfolio investors turned net sellers at Rs 23 crore on Friday, while DIIs bought shares worth Rs 6,658 crore. The rupee rose 11 paise to settle at 83.34 against the US dollar on Friday amid recent inflow of foreign funds. The net long of FIIs increased from Rs 3.19 lakh crore on Thursday to Rs 3.46 lakh crore on Friday.

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