Stock market today: Indian Equity Benchmark Index, BSE Sensex And the Nifty50, opened in the red on Friday. While the BSE Sensex was below 81,100, Nifty50 was around 24,500. At 9:17 am, the BSE Sensex was trading down 210 points, or 0.26 percent, at 81,080.00. The Nifty 50 was down 59 points or 0.24 percent at 24,489.45.
On Thursday, domestic markets experienced downward pressure throughout the session, closing near the lowest point of the day. Broader markets ended their 14-day positive streak. Markets are expected to respond to the inflation data of 5.48% today.
“We expect markets to trade with a positive bias, driven by easing retail inflation and favorable global cues,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
“We expect the consolidation phase to end soon, with the Nifty likely to cross the 24,800 resistance level. While sectoral participation remains selective, the banking and IT sectors are expected to be the next phase of the rally. will play an important role in running,” said. Ajit Mishra – SVP, Research, Religare Broking.
Technical outlook suggests continued sideways movement in Nifty with support at 24,470 and resistance at 24,650-24,700. India VIX fell 0.58% to 13.19.
US markets fell as investors reviewed economic indicators ahead of the Federal Reserve’s meeting next week. Asian markets saw weakness, with Japanese and Australian shares falling. The F&O ban list includes Granules, Manappuram, Metropolis, PVR Inix, RBL Bank, and Hindustan Copper.
FIIs became net sellers for Rs 3,560 crore while DIIs bought shares worth Rs 2,646 crore. Net short position of FIIs increased to Rs 68,081 crore from Rs 47,768 crore.