Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, turned green in early trade after opening in red. BSE Sensex moved above 75,100 and Nifty50 was above 22,850. At 9:21 AM, BSE Sensex was trading at 75,182.80, up 108 points or 0.14%. Nifty50 was at 22,865.95, up 45 points or 0.20%.
The Indian stock market experienced gains for the second consecutive day on Thursday, despite volatile trading conditions, as investors started to process the results of the Lok Sabha 2024 elections.
“All eyes will be on government formation this weekend along with ECB meeting today and RBI policy outcome and commentary,” said Yashovardhan Khemka, Senior Manager, Research & Analytics at Abans Holdings.
The short-term trend for Nifty remains positive, although high volatility persists. With Nifty surpassing the 22250 level hurdle, it could potentially reach the next resistance level of 23200 in the near future, according to Nagaraj Shetti of HDFC Securities. The immediate support level is at 22640.
Asian markets showed mixed performance, with S&P 500 futures remaining steady, Hang Seng futures rising 0.4%, Japan’s Topix staying flat, Australia’s S&P/ASX 200 increasing 0.2%, and Euro Stoxx 50 futures climbing 0.7%.
In the US, the S&P 500 and Nasdaq composite closed slightly lower on Thursday as investors awaited a significant labor market report. The Dow, however, managed to edge higher. Initially, both the S&P 500 and Nasdaq reached new intraday highs but later retreated due to a decline in technology stocks.
Oil prices continued to rise on Friday, with Brent crude futures increasing by 16 cents or 0.2% to $80.03 per barrel and U.S. West Texas Intermediate crude futures also rising by 16 cents or 0.2% to $75.71, as of 0007 GMT. This upward trend was supported by indications from OPEC+ members Saudi Arabia and Russia about their willingness to pause or reverse output agreements, as well as the prospect of a similar U.S. interest rate cut following a rate reduction in Europe.
Foreign portfolio investors (FPIs) were net sellers, offloading shares worth Rs 6,867 crore on Thursday, while domestic institutional investors (DIIs) also sold shares worth Rs 3,718 crore. The Indian rupee depreciated by 9 paise to settle at 83.53 against the US dollar, influenced by foreign capital outflows and rising crude oil prices in international markets.
The net short position of FIIs decreased from Rs 3.11 lakh crore on Wednesday to Rs 2.87 lakh crore on Thursday. Securities in the ban period under the F&O segment include companies whose security has crossed 95% of the market-wide position limit.
The Indian stock market experienced gains for the second consecutive day on Thursday, despite volatile trading conditions, as investors started to process the results of the Lok Sabha 2024 elections.
“All eyes will be on government formation this weekend along with ECB meeting today and RBI policy outcome and commentary,” said Yashovardhan Khemka, Senior Manager, Research & Analytics at Abans Holdings.
The short-term trend for Nifty remains positive, although high volatility persists. With Nifty surpassing the 22250 level hurdle, it could potentially reach the next resistance level of 23200 in the near future, according to Nagaraj Shetti of HDFC Securities. The immediate support level is at 22640.
Asian markets showed mixed performance, with S&P 500 futures remaining steady, Hang Seng futures rising 0.4%, Japan’s Topix staying flat, Australia’s S&P/ASX 200 increasing 0.2%, and Euro Stoxx 50 futures climbing 0.7%.
In the US, the S&P 500 and Nasdaq composite closed slightly lower on Thursday as investors awaited a significant labor market report. The Dow, however, managed to edge higher. Initially, both the S&P 500 and Nasdaq reached new intraday highs but later retreated due to a decline in technology stocks.
Oil prices continued to rise on Friday, with Brent crude futures increasing by 16 cents or 0.2% to $80.03 per barrel and U.S. West Texas Intermediate crude futures also rising by 16 cents or 0.2% to $75.71, as of 0007 GMT. This upward trend was supported by indications from OPEC+ members Saudi Arabia and Russia about their willingness to pause or reverse output agreements, as well as the prospect of a similar U.S. interest rate cut following a rate reduction in Europe.
Foreign portfolio investors (FPIs) were net sellers, offloading shares worth Rs 6,867 crore on Thursday, while domestic institutional investors (DIIs) also sold shares worth Rs 3,718 crore. The Indian rupee depreciated by 9 paise to settle at 83.53 against the US dollar, influenced by foreign capital outflows and rising crude oil prices in international markets.
The net short position of FIIs decreased from Rs 3.11 lakh crore on Wednesday to Rs 2.87 lakh crore on Thursday. Securities in the ban period under the F&O segment include companies whose security has crossed 95% of the market-wide position limit.