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Nifty maintains a positive short-term trend, with potential to reach 25K upon breaking the 24500 resistance, says Nagaraj Shetti of HDFC Securities. (AI image)
Stock market today
: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Thursday. While BSE Sensex declined over 100 points, Nifty50 was near 24,450. At 9:16 AM, BSE Sensex was trading at 80,265.63, down 113 points or 0.14%. Nifty50 was at 24,438.35, down 46 points or 0.19%.
On Wednesday,
Indian equities
experienced robust gains for the second consecutive day, influenced by Donald Trump‘s victory in the US election.
“Markets will be reacting on Friday to the US Fed and BOE interest rate decision tomorrow. There is an expectation of a 25bps rate cut by the Fed committee. We expect markets to see a near term bounce back due to positive sentiments globally,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
Nifty maintains a positive short-term trend, with potential to reach 25K upon breaking the 24500 resistance. Support exists at 24350, according to Nagaraj Shetti of HDFC Securities.
US stocks achieved record highs following Trump’s unexpected 2024 presidential victory. Dow rose 3.57%, S&P 500 increased 2.53% and Nasdaq advanced 2.95%.
Japanese markets led Asian gains following US records. Early Asian trading saw yen stabilisation after Wednesday’s decline.
Dollar climbed to its highest level in four months following Republican Donald Trump’s victory in the U.S. presidential election. His proposed policies regarding immigration, taxation and trade are anticipated to boost U.S. economic growth and inflation rates.
Foreign portfolio investors shifted to a net selling position of Rs 4,445 crore on Wednesday, whilst domestic institutional investors acquired shares valued at Rs 4,889 crore.
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