Today’s stock market saw positive movements as both the BSE Sensex and Nifty50, India’s equity benchmark indices, surged on Thursday. The BSE Sensex rose by over 150 points, while the Nifty50 hovered close to the 22,650 mark.
In today’s stock market update, both the Indian equity benchmark indices, BSE Sensex and Nifty50, witnessed gains on Thursday. The BSE Sensex surged by over 150 points, reaching 74,642.13 at 9:20 AM, marking a rise of 159 points or 0.21%. Similarly, the Nifty50 was trading near 22,650, standing at 22,640.85, with a gain of 36 points or 0.16%. Following a two-day rally, the Nifty saw profit-taking on Tuesday.
The US Federal Reserve policy decision and Consumer Confidence data are expected to influence the markets on Thursday. Siddhartha Khemka, Head of Retail Research at Motilal Oswal, stated, “Overall we expect the market to continue its positive momentum supported by healthy DIIs & retail buying and the Q4 result season.”
According to an ET report, Tejas Shah of JM Financial & BlinkX noted that the immediate resistance zone is at 22,750-800 levels, with the next psychological resistance for Nifty at the 23,000 mark. The market is expected to remain volatile within the 22,300-22,800 range in the near term.
In the US, stocks closed mixed following the Federal Reserve’s decision to maintain its key interest rate. The Fed suggested that a rate cut might be the next step but emphasized that sustained progress on inflation is not guaranteed. Asian equities slipped after the Fed chair’s comments, while oil prices increased on the possibility of the US purchasing crude for its petroleum reserve
Thursday’s market dynamics are expected to be influenced by the US Federal Reserve policy decision and Consumer Confidence data. Siddhartha Khemka, Head of Retail Research at Motilal Oswal, anticipates the market to sustain its positive momentum, buoyed by robust DIIs & retail buying, and the ongoing Q4 result season.
According to an ET report, Tejas Shah of JM Financial & BlinkX pointed out that the immediate resistance zone for Nifty is situated at 22,750-800 levels, with the subsequent psychological barrier at the 23,000 mark. The market is likely to experience volatility within the 22,300-22,800 range in the short term.
In the US, stocks ended with mixed results post the Federal Reserve’s decision to maintain its key interest rate. While hinting at a potential rate cut in the future, the Fed cautioned that sustained progress on inflation is not assured. Asian equities dipped following the Fed chair’s remarks, whereas oil prices surged amidst speculation about the US buying crude for its petroleum reserve.
Early on Thursday, the yen depreciated, reversing its abrupt surge against the dollar from the previous day, a move attributed by traders and analysts to intervention by Japanese authorities. Notably, Vodafone Idea and Biocon are among the stocks under the F&O ban period today.
Foreign portfolio investors remained net buyers at Rs 1,071 crore on Tuesday for the second consecutive day, while domestic institutional investors purchased shares worth Rs 1,429 crore. The rupee strengthened by 2 paise to 83.43 against the US dollar on Tuesday, bolstered by fresh foreign capital inflows amidst volatility in the domestic equity markets.
Furthermore, several companies, including Adani Enterprises, Adani Ports, Dabur, and Coal India, are scheduled to unveil their fourth-quarter earnings on Thursday.
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