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BSE Sensex Starts Strong: Up 200 Points, Nifty 50 Above 23,550 in Today's Market

Today, the Indian stock market saw a positive opening as both the BSE Sensex and Nifty50 began in the green on Tuesday. The BSE Sensex surged by 200 points, reaching above 77,500, while the Nifty50 climbed past the 23,550 mark. As of 9:21 AM, the Sensex was trading at 77,523.37, marking a gain of 182 […]

Today, the Indian stock market saw a positive opening as both the BSE Sensex and Nifty50 began in the green on Tuesday. The BSE Sensex surged by 200 points, reaching above 77,500, while the Nifty50 climbed past the 23,550 mark. As of 9:21 AM, the Sensex was trading at 77,523.37, marking a gain of 182 points or 0.24%, and the Nifty50 stood at 23,583.15, up by 45 points or 0.19%. Despite starting off slow, the domestic market managed to close Monday with modest gains. Analysts are predicting potential volatility ahead due to the monthly derivatives expiry week.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal, highlighted, “This week, market movements will hinge on global macroeconomic indicators and the progress of monsoon in India. We anticipate the Nifty to stabilize amidst some volatility during the derivatives expiry.”

According to Nagaraj Shetti from HDFC Securities, “In the short term, Nifty’s outlook remains optimistic despite fluctuations. After rebounding from around 23,300 levels, there’s a chance for Nifty to test the upper range of 23,650-23,700 soon, with immediate support seen at 23,350.”

In the US, the stock market closed with mixed results as the Dow Jones Industrial Average hit a one-month high, contrasting with the Nasdaq’s decline of over 1%. This shift was driven by investors moving away from AI-related stocks and reallocating investments amid expectations of potential interest rate cuts by the Federal Reserve later this year. Asian markets, on the other hand, showed resilience, edging higher despite a varied performance on Wall Street, fueled by speculations of a slowdown in the tech sector rally.

Meanwhile, oil prices remained stable on Tuesday despite concerns surrounding China’s economic recovery and geopolitical tensions stemming from Ukrainian attacks on Russian refineries.

Several stocks, including Balrampur Chini Mills, PEL, Chambal Fertilisers, Indus Tower, PNB, SAIL, GNFC, and Granules, are currently in the F&O ban period in the Indian market.

Foreign portfolio investors continued to be net sellers for the second consecutive day, with net sales amounting to Rs 653 crore on Monday. Concurrently, domestic institutional investors also divested shares worth Rs 820 crore.

Overall, the net long position of Foreign Institutional Investors (FIIs) increased from Rs 73,991 crore on Friday to Rs 1.01 lakh crore on Monday, indicating their sustained interest in the Indian equity market.

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BSE NSE Stock MarketBSE SensexStock marketTDG TheDailyGuardian