Today in the stock market, Indian equity benchmark indices, BSE Sensex and Nifty50, started off in the red. The BSE Sensex opened above 81,700, while the Nifty50 was above 25,000. As of 9:18 AM, the BSE Sensex was trading at 81,717.61, down 68 points or 0.083%. The Nifty50 stood at 25,034.90, down 17 points or 0.070%.

Yesterday, the Indian stock market hit a new high, with the Nifty closing at 25,052 points after reaching a new high of 25,129. Analysts are optimistic about the market’s upward trend, fueled by FII inflows and strong domestic macros. However, volatility is expected today due to the monthly derivatives expiry. Keep an eye on the US Q2 Projected GDP Data for further insights.

Technical analysis suggests a potential upside target of 25,360 levels in the short term, with immediate support around 24,800-24,750 levels, as per Nagaraj Shetti of HDFC Securities.

In global markets, US stocks declined yesterday ahead of Nvidia’s quarterly report, which could impact the AI-driven rally. Asian stocks followed suit with major indices trading lower. Oil prices remained stable, while the dollar recovered after recent losses. Traders are awaiting the US inflation reading later this week for more clarity on rate expectations.

Today in the Indian market, Bandhan Bank, Granules, India Cement, and Hindustan Copper are in the F&O ban period. Foreign portfolio investors were 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 today.