1 week ago
10
Stock market today
:
BSE Sensex
and Nifty50, the Indian equity benchmark indices, opened in green on Friday marking another day of positive run for
Dalal Street
. While BSE Sensex opened 100 points up,
Nifty50
was above 22,600. At 9:18 AM, BSE Sensex was trading at 74,432.51, up 93 points or 0.13%. Nifty50 was at 22,600.30, up 30 points or 0.13%.
The Indian stock market extended its winning streak for the fifth consecutive day on Thursday, propelled by positive global sentiment.
Despite a decline in other Asian and European markets, as well as a sharp drop in US Dow Futures, local investors remained optimistic and continued to place bullish bets on the monthly F&O expiry day. The benchmark indices rallied, led by gains in frontline banking and metal stocks.
"Investors placed more bullish bets on the monthly F&O expiry day, which saw benchmark indices rally for the fifth straight session led by gains in frontline banking and metal stocks. Even the fall in other Asian and European indices and US Dow Futures witnessing a sharp fall too didn't deter local investors," Prashanth Tapse, Senior Vice President (Research) at Mehta Equities was quoted as saying by ET.
India's robust growth prospects and the anticipation of a majority win for the ruling party in the upcoming elections have been attracting a significant number of domestic investors to the equity market, despite the outflow of foreign institutional investors (FIIs).
The Nifty is expected to continue its upward trend and may attempt to surpass its all-time high of 22,776, with short-term support levels at 22,500 and 22,300, and resistance around 22,780 and 23,000, says Neeraj Sharma, AVP Technical and Derivatives Research at Asit C Mehta Investment Interrmediates..
In the
global markets
, Wall Street stocks closed lower on Thursday, stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, along with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms. The Dow, S&P, and Nasdaq all experienced declines. Oil prices, on the other hand, rose in early trade on Friday, as investors considered the U.S. Treasury secretary's comments on the country's economic strength and ongoing supply concerns due to the conflict in the Middle East.
The Japanese yen remained near a 34-year low against the dollar and decade lows against other currencies ahead of a Bank of Japan meeting where interest rates are expected to remain low. The Indian rupee ended largely unchanged on Thursday, caught between a decline in most of its Asian peers and interbank dollar sales after the local unit managed to hold above a key support level.
Several prominent companies, including HCL Technologies, Bajaj Finserv, Maruti Suzuki, SBI Life Insurance Company, and SBI Cards and Payment Services, are among the 41 companies set to announce their fourth quarter earnings on Friday.
English (US) ·