Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Thursday. While BSE Sensex moved above 81,000, Nifty50 was above 24,500. At 9:17 AM, BSE Sensex was trading at 81,093.61, up 137 points or 0.17%. Nifty50 was at 24,504.10, up 37 points or 0.15%.
Nifty concluded Wednesday’s volatile session without significant change, influenced by conflicting factors between domestic positives and weak Asian indicators.
“We expect the consolidation to continue in the next session, though the overall sentiment should stay positive. Traders are advised to focus on a stock-specific approach and use these intermediate pauses to accumulate quality stocks,” said Ajit Mishra – SVP, Research, Religare Broking.
Support exists at 24,350, with resistance at 24,700. Breaking above 24,700 could extend the upward trend, whilst falling below 24,350 might weaken market confidence, according to an ET report.
US indices achieved record closings on Wednesday, with technology shares leading gains following Salesforce results and Powell’s remarks.
Asian shares improved following global stock records. French political developments affected currency trading.
Oil prices increased Thursday before OPEC+ meeting, with focus on supply decisions and Middle East situations.
FPIs bought Rs 1,797 crore whilst DIIs sold Rs 90 crore on Wednesday. FII net short position reduced to Rs 82,563 crore from Rs 97,387 crore.