Monday, July 15, 2024
HomeLatest NewsStock market today: BSE Sensex slips below 80,000; Nifty50 near 24,250

Stock market today: BSE Sensex slips below 80,000; Nifty50 near 24,250

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, slipped in red in opening trade on Friday. While BSE Sensex slipped below 80,000, Nifty went below 24,250. At 9:17 AM, BSE Sensex was trading at 79,751.71, down 298 points or 0.37%. Nifty50 was at 24,228.10, down 74 points or 0.30%.
Analysts attribute the overall positive market sentiment to the release of pre-quarterly business updates, which instill confidence in a robust Q1 earnings season.
Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services, said, “We expect this ongoing momentum to continue and the Nifty to consolidate in a broader range. Investors would watch for the US Non-farm payroll and Unemployment Rate.”
Nagaraj Shetti of HDFC Securities notes that with the Nifty positioned at the 24,400 level resistance (1.618% Fibonacci Extension), there is a possibility of the current consolidation or minor dip extending into the upcoming sessions. The immediate support level is identified at the 10-day EMA of 23,990.
Global markets showed mixed trends, with S&P 500 futures and Hang Seng futures remaining steady, while Japan’s Topix was unchanged. Australia’s S&P/ASX 200 experienced a slight decline of 0.2%, and Euro Stoxx 50 futures rose by 0.4%.
In the currency market, the euro, Japanese yen, and offshore yuan remained relatively stable against the US dollar.
Five stocks, namely India Cements, Hindustan Copper, ABFRL, Bandhan Bank, and PEL, are currently under the F&O ban period, as they have crossed 95% of the market-wide position limit.
Foreign portfolio investors (FPIs) emerged as net buyers, investing Rs 2,575 crore on Thursday, while domestic institutional investors (DIIs) sold shares worth Rs 2,375 crore. The net long position of FIIs increased from Rs 3.78 lakh crore on Wednesday to Rs 3.92 lakh crore on Thursday.

Source link



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments