Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Tuesday. While BSE Sensex dipped over 100 points, Nifty50 was down over 15 points. At 9:20 AM, BSE Sensex was trading at 73,891.00, down 115 points or 0.16%. Nifty50 was at 22,483.30, down 19 points or 0.083%.
The equity market indices experienced a positive trend during a special trading session on Saturday, marking the third consecutive day of gains, supported by fresh inflows from foreign investors.
“Overall, we expect markets to witness a gradual recovery. However, concerns regarding consistent FII selling, India VIX still above 20 levels, ongoing general election polling and the outcome could keep volatility higher,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial
Technical analysis by Nagaraj Shetti from HDFC Securities suggests that the Nifty is expected to move towards the upper range of 22,800 levels in the next 1-2 weeks, with immediate support at 22,200 levels.
In the global markets, US stocks closed mixed on Monday, with the Nasdaq reaching a record high and the S&P 500 gaining slightly, driven by technology stocks ahead of Nvidia’s earnings report. Asian shares took a breather on Tuesday after a seven-day winning streak, with traders focusing on Nvidia’s earnings later in the week. Oil prices fell in early Asian trade due to expectations of higher-for-longer US inflation and interest rates, which could dampen consumer and industrial demand. The dollar remained firm, while the yen struggled around the 156 level.
Foreign portfolio investors (FPIs) were net sellers at Rs 92 crore on Friday, while domestic institutional investors (DIIs) bought shares worth Rs 153 crore. The rupee appreciated 13 paise to close at 83.37 against the US dollar on Friday, supported by positive sentiment in domestic equity markets and fresh foreign fund inflows. The net short position of FIIs reduced from Rs 2.48 lakh crore on Friday to Rs 2.46 lakh crore on Saturday.
Several companies, including BHEL, NMDC, PI Industries, Hitachi Energy, and Ircon, are set to announce their fourth-quarter earnings on Tuesday.
The equity market indices experienced a positive trend during a special trading session on Saturday, marking the third consecutive day of gains, supported by fresh inflows from foreign investors.
“Overall, we expect markets to witness a gradual recovery. However, concerns regarding consistent FII selling, India VIX still above 20 levels, ongoing general election polling and the outcome could keep volatility higher,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial
Technical analysis by Nagaraj Shetti from HDFC Securities suggests that the Nifty is expected to move towards the upper range of 22,800 levels in the next 1-2 weeks, with immediate support at 22,200 levels.
In the global markets, US stocks closed mixed on Monday, with the Nasdaq reaching a record high and the S&P 500 gaining slightly, driven by technology stocks ahead of Nvidia’s earnings report. Asian shares took a breather on Tuesday after a seven-day winning streak, with traders focusing on Nvidia’s earnings later in the week. Oil prices fell in early Asian trade due to expectations of higher-for-longer US inflation and interest rates, which could dampen consumer and industrial demand. The dollar remained firm, while the yen struggled around the 156 level.
Foreign portfolio investors (FPIs) were net sellers at Rs 92 crore on Friday, while domestic institutional investors (DIIs) bought shares worth Rs 153 crore. The rupee appreciated 13 paise to close at 83.37 against the US dollar on Friday, supported by positive sentiment in domestic equity markets and fresh foreign fund inflows. The net short position of FIIs reduced from Rs 2.48 lakh crore on Friday to Rs 2.46 lakh crore on Saturday.
Several companies, including BHEL, NMDC, PI Industries, Hitachi Energy, and Ircon, are set to announce their fourth-quarter earnings on Tuesday.