Welcome to the latest update on the stock market today!
Today, Indian equity benchmark indices, BSE Sensex and Nifty50, opened marginally in the red. BSE Sensex was trading above 81,000, while Nifty50 was above 24,800. As of 9:16 AM, BSE Sensex stood at 81,029.58, down by 24 points or 0.029%, and Nifty50 was at 24,809.00, down by 3 points or 0.010%.
According to Chandan Taparia of Motilal Oswal, Nifty needs to hold above 24,700 to continue its upward trend towards 25,000 and 25,100. The support levels for Nifty are at 24,700 and 24,550.
Ajit Mishra, SVP of Research at Religare Broking, stated, “Markets are closely monitoring global indices for direction, with some caution due to the recent pause in US markets ahead of the Jackson Hole Symposium. Despite signs of consolidation in the Nifty after failing to break the 24,850 resistance level, we maintain a bullish outlook and recommend selective stock picking.”
In global markets, S&P 500 futures rose by 0.2%, Hang Seng futures fell by 1%, Japan’s Topix increased by 0.3%, and Australia’s S&P/ASX 200 dropped by 0.4%. Euro Stoxx 50 futures remained relatively unchanged.
Today, several stocks are under the F&O ban, including India Cements, Balrampur Chini Mills, GNFC, Nalco, Birla Soft, Sun TV, Aarti Industries, and more. These securities have crossed 95% of the market-wide position limit.
Foreign portfolio investors turned net buyers, purchasing shares worth Rs 1,372 crore on Wednesday, while domestic institutional investors bought shares worth Rs 2,972 crore. The net long position of FIIs increased from Rs 17,768 crore on Wednesday to Rs 24,869 crore on Thursday.
Stay tuned for more updates and analysis on the stock market trends!
