Stock market today: Indian Equity Benchmark Index, BSE Sensex And the Nifty50, opened flat in Tuesday’s trade. While the BSE Sensex was around 81,500, Nifty50 was above 24,600. At 9:17 am, the BSE Sensex was trading down 13 points, or 0.016%, at 81,495.18. The Nifty 50 was down 4 points or 0.017 percent at 24,614.90.
On Monday, India’s benchmark indices fell for the second straight day, with FMCG and auto stocks leading the decline.
LKP Securities Senior Technical Analyst Ropak D noted the sideways trading pattern, attributing it to the cautious stance of traders. He expects that trend to continue due to the lack of major events of the week.
“Technically, Nifty has initial support around 24,470. A break below this level could trigger a correction of 200-250 points. On the upside, the 24,700-24,750 zone is expected to act as resistance,” Dee said.
Angel One technical analyst Rajesh Bhosle noted the Nifty’s strong recovery from 23,263, suggesting market consolidation with recent short-body candles.
U.S. indexes fall, Nvidia’s decline hits tech stocks. Asian markets showed a mixed performance, with hopes of a Chinese stimulus lifting sentiment. Hang Seng futures rose 3.4 percent, while Japan’s Topex added 0.4 percent.
FIIs bought shares worth Rs 724.27 crore, while DIIs sold shares worth Rs 1,648.07 crore.