Stock market today: Indian Equity Benchmark Index, BSE Sensex And the Nifty50, opened in the green on Wednesday. While the BSE Sensex was above 76,700, Nifty50 was around 23,200. At 9:16 am, the BSE Sensex was trading up 254 points or 0.33 percent at 76,753.68. The Nifty 50 was up 52 points or 0.22 percent at 23,227.95.
Indian markets showed an upward trend on Tuesday, buoyed by recovery in global markets and decline in domestic CPI inflation. Market sentiment is expected to focus on the current earnings reports and the upcoming Union Budget, with mixed views.
The daily charts maintain a negative pattern of lower peaks and troughs, suggesting the possible formation of another lower peak during the short-term upward movement. India VIX fell 3.3 percent to 15.47.
The S&P 500 rose modestly while the Nasdaq fell on Tuesday, as investors weighed inflation data and corporate earnings reports. Asian markets showed gains after a mild trading session in the US.
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The dollar’s rally slowed on Wednesday ahead of the US consumer inflation report. Gold prices remained steady as investors awaited US consumer price data for insight into the Federal Reserve’s interest rate decisions.
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FPIs recorded net sales of Rs 8,132 crore on Tuesday, while DIIs bought shares worth Rs 7,901 crore. Net short position of FIIs declined to Rs 2.94 lakh crore from Rs 2.95 lakh crore.