Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Monday. While BSE Sensex was above 81,600 level, Nifty50 was above 24,950. At 9:16 AM, BSE Sensex was trading at 81,641.42, up 417 points or 0.51%. Nifty50 was at 24,959.30, up 105 points or 0.42%.
Last week, the domestic stock markets were down for the third week in a row, with a decline of nearly 0.5% as the corrective phase persisted.In the absence of significant catalysts, investors will be closely monitoring the upcoming earnings reports for guidance. Today, the shares of major banking players HDFC Bank and Kotak Bank will be in the spotlight following their Q2 results.
Nagaraj Shetti of HDFC Securities suggests that a sustained upward movement from the current levels could confirm a crucial bottom reversal pattern, with immediate support at 24,500 and the next resistance around 24,950-25,000 levels.
In the United States, the Dow Jones Industrial Average and S&P 500 reached record closing highs on Friday, driven by a surge in Netflix shares following strong earnings and broader gains in technology stocks. The Nasdaq also ended the session in positive territory.
Asian markets were mixed in early Monday trading, with the S&P 500 futures rising 0.1%, while Hang Seng futures fell 0.4%. Australia’s S&P/ASX 200 gained 0.7%. Gold prices touched a record high as tensions in the Middle East fueled demand for the precious metal as a safe-haven asset.
Several stocks are under the F&O ban today, including Chambal Fertilisers, SAIL, Hindustan Copper, Aarti Industries, Granules, Birla Soft, PNB, GNFC, IDFC First Bank, Tata Chemicals, IEX, Nalco, LTF, and Bandhan Bank. These securities have crossed 95% of the market-wide position limit.
On Friday, foreign portfolio investors (FPIs) were net sellers, offloading shares worth Rs 5,486 crore, while domestic institutional investors (DIIs) bought shares worth Rs 5,215 crore.
The net short position of FIIs reduced from Rs 1.69 lakh crore on Thursday to Rs 1.62 lakh crore on Friday.
