Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, dipped in opening trade on Thursday. While BSE Sensex dropped over 200 points, Nifty50 was near 22,650. At 9:22 AM, BSE Sensex was trading at 74,398.62, down 104 points or 0.14%. Nifty50 was at 22,675.70, down 29 points or 0.13%.
The Indian equity markets experienced a significant downturn on Wednesday, influenced by unfavorable global cues and uncertainties surrounding the election outcome.
Siddhartha Khemka, Head – Retail Research, Motilal Oswal, commented, “On the domestic front, though FII selling intensity has reduced, the caution is increasing as we near the big event outcome which is resulting in profit booking. The volatility is expected to be heightened in coming sessions, thus it’s advisable to traders to stay on the sidelines and not get too aggressive. The weak global cues are further adding to the nervousness and thus markets are likely to remain weak in near future.”
According to Tejas Shah of JM Financial & BlinkX, the support levels for Nifty are now seen at 22,675-700 and 22,500, while the immediate resistance zone is at 22,825-850 levels, with the next psychological resistance at the 23,000 mark.
Also Read | What are ‘Modi stocks’? Global brokerage CLSA has this to say on these ‘outperformers’ ahead of Lok Sabha election results
The US markets closed lower on Wednesday, with the Dow falling 1.06%, the S&P 500 down 0.74%, and the Nasdaq declining 0.58%. The Asian markets followed suit, with S&P 500 futures, Hang Seng futures, Japan’s Topix, Australia’s S&P/ASX 200, and Euro Stoxx 50 futures all trading in the red. Oil prices also dipped as the markets await the latest U.S. crude oil stockpiles data, while the dollar gained strength against its major peers.
Also Read | When will BSE Sensex hit 1 lakh? Mark Mobius says ‘Indian markets will…’
In the Indian markets, foreign portfolio investors (FPIs) were net sellers at Rs 5,841 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 5,233 crore.
Several companies, including Apollo Hospitals and Muthoot Finance, are set to announce their fourth-quarter earnings on Thursday. Additionally, ABFRL, GMR Infra, Hindustan Copper, and Vodafone Idea are among the stocks in the F&O ban period today.
The Indian equity markets experienced a significant downturn on Wednesday, influenced by unfavorable global cues and uncertainties surrounding the election outcome.
Siddhartha Khemka, Head – Retail Research, Motilal Oswal, commented, “On the domestic front, though FII selling intensity has reduced, the caution is increasing as we near the big event outcome which is resulting in profit booking. The volatility is expected to be heightened in coming sessions, thus it’s advisable to traders to stay on the sidelines and not get too aggressive. The weak global cues are further adding to the nervousness and thus markets are likely to remain weak in near future.”
According to Tejas Shah of JM Financial & BlinkX, the support levels for Nifty are now seen at 22,675-700 and 22,500, while the immediate resistance zone is at 22,825-850 levels, with the next psychological resistance at the 23,000 mark.
Also Read | What are ‘Modi stocks’? Global brokerage CLSA has this to say on these ‘outperformers’ ahead of Lok Sabha election results
The US markets closed lower on Wednesday, with the Dow falling 1.06%, the S&P 500 down 0.74%, and the Nasdaq declining 0.58%. The Asian markets followed suit, with S&P 500 futures, Hang Seng futures, Japan’s Topix, Australia’s S&P/ASX 200, and Euro Stoxx 50 futures all trading in the red. Oil prices also dipped as the markets await the latest U.S. crude oil stockpiles data, while the dollar gained strength against its major peers.
Also Read | When will BSE Sensex hit 1 lakh? Mark Mobius says ‘Indian markets will…’
In the Indian markets, foreign portfolio investors (FPIs) were net sellers at Rs 5,841 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 5,233 crore.
Several companies, including Apollo Hospitals and Muthoot Finance, are set to announce their fourth-quarter earnings on Thursday. Additionally, ABFRL, GMR Infra, Hindustan Copper, and Vodafone Idea are among the stocks in the F&O ban period today.
