Stock market today: Indian Equity Benchmark Index, BSE Sensex And the Nifty50, opened in the red on Monday. While the BSE Sensex opened 100 points lower, Nifty50 was above 24,650. At 9:16 am, the BSE Sensex was trading down 65 points, or 0.080%, at 81,644.04. The Nifty 50 was down 10 points or 0.042 percent at 24,667.35.
Key economic data has been released this week, including US, Japanese and UK GDP figures, along with China’s CPI and PPI, and India’s CPI.
Experts believe that buying during a dip in prices remains profitable, with the possibility of reaching around 25,500. Short corrections are expected after strong advances, reinforcing the benefits of buying during price declines.
Asian equities fell on Monday, led by South Korean markets, with interest rate cuts expected ahead of several central bank meetings. US inflation data is important for additional policy adjustments.
Oil was mixed in early Asian hours on Monday, with concerns about Chinese demand balanced by rising tensions in the Middle East following the ouster of Syrian President Bashar al-Assad.
The Canadian and Australian dollars gained attention ahead of their central bank meetings, while the euro and other major currencies were steady as traders weighed the prospects for the US dollar.
Foreign portfolio investors sold a net Rs 1,830 crore on Friday, while domestic institutional investors bought shares worth Rs 1,659 crore.
Net short position of FIIs decreased to Rs 39,441 crore on Friday from Rs 45,397 crore on Thursday.