Stock market today: BSE Sensex crosses 77,000 mark, hits life-time high; Nifty50 near 23,400 – Times of India

Nagaraj Shetti of HDFC Securities says that there is a possibility of a minor dip in the market from the highs in the short term. (AI image)

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in trade on Monday morning reaching life-time highs. While BSE Sensex crossed the 77,000 mark, Nifty50 was near 23,400. At 9:18 AM, BSE Sensex was trading at 77,014.69, up 321 points or 0.42%. Nifty50 was at 23,391.55, up 101 points or 0.44%.
The domestic stock market ended the previous week near record highs, despite significant fluctuations caused by election-related uncertainty.Analysts anticipate that the upward trend will persist, with attention now turning to crucial economic indicators both domestically and globally.
Nagaraj Shetti of HDFC Securities says that there is a possibility of a minor dip in the market from the highs in the short term, around the 23300-23400 levels, which could present a buying opportunity. The immediate support level is at 22900.
Oil prices edged lower for the second consecutive session on Monday, pressured by a stronger dollar as expectations of interest rate cuts were pushed further out following robust U.S. jobs data on Friday. Brent crude futures and U.S. West Texas Intermediate crude futures slipped 4 cents to $79.58 and $75.49 a barrel, respectively, by 0036 GMT.
ZEE, Balrampur Chini Mills, and SAIL are among the stocks in the F&O ban today. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
Foreign portfolio investors were net buyers at Rs 4,391 crore on Friday, while domestic institutional investors sold shares worth Rs 1,289 crore. The rupee appreciated by 13 paise to 83.40 against the US dollar on Friday, in line with a firm trend in domestic equity markets after the Reserve Bank of India (RBI) maintained the key policy rate.
The net short position of foreign institutional investors increased from Rs 2.87 lakh crore on Thursday to Rs 1.92 lakh crore on Friday.

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