Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Tuesday. While BSE Sensex was near 82,200, Nifty50 was above 25,150. At 9:16 AM, BSE Sensex was trading at 82,198.68, up 226 points or 0.28%. Nifty50 was at 25,196.05, up 68 points or 0.27%.
The Indian stock market experienced a positive trading session on Monday, closing near the day’s high.Today, the market will witness the launch of the Hyundai IPO, which is the largest-ever in India, with an issue size of Rs 27,870 crore.
Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal, commented, “Markets have gradually picked up with Nifty sustaining above the 25k mark. We expect this up-move to continue in the market with stock-specific action.”
Nagaraj Shetti of HDFC Securities noted that a sustainable move above the 25,200 level could be considered an upside breakout, potentially pushing Nifty towards the 25,500-25,600 range in the near term, with immediate support at 24,900 levels.
Wall Street ended higher on Monday, with the S&P 500 and Dow posting fresh record finishes as investors bought into technology stocks ahead of a busy week of corporate earnings and crucial economic data. The Dow gained 0.47%, the S&P 500 was up 0.77%, and the Nasdaq jumped 0.87%.
Asian shares climbed following Wall Street’s strong performance, with stocks hitting fresh record highs. Oil prices dropped as concerns eased about Israel attacking Iranian energy facilities.
S&P 500 futures were little changed as of 9:40 a.m. Tokyo time, while Japan’s Topix rose 0.9%, Australia’s S&P/ASX 200 rose 0.8%, and Euro Stoxx 50 futures rose 0.3%.
Oil prices slid $2 in early Asian trade on Tuesday as OPEC lowered its outlook for global oil demand growth in 2024 and 2025, and a media report suggested that Israel is willing to strike Iranian military targets, but not nuclear or oil facilities.
Eleven stocks are in the F&O ban period today, including Chambal Fertilisers, SAIL, Hindustan Copper, RBL Bank, Granules, Manappuram, PNB, GNFC, IDFC First Bank, Tata Chemicals, IEX, and Nalco. These securities have crossed 95% of the market-wide position limit.
Foreign portfolio investors turned net sellers at Rs 3,731 crore on Monday, while DIIs bought shares worth Rs 2,278 crore.
The net short position of FIIs reduced slightly from Rs 1.502 lakh crore on Friday to Rs 1.501 lakh crore on Monday.