Wednesday, April 24, 2024

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HomeNewsBSE Sensex surges 500 points; Nifty50 crosses 21,500

BSE Sensex surges 500 points; Nifty50 crosses 21,500

Stock market today

:

BSE Sensex

and Nifty50, the Indian equity benchmark indices, surged in trade on Monday – marking a positive start to the first day of the new financial year 2024-25. While BSE Sensex rallied 500 points,

Nifty50

moved above the 22,500 level. At 9:24 AM, BSE Sensex was trading at 74,149.82, up 498 points or 0.68%. Nifty50 was at 22,503.05, up 176 points or 0.79%.
Equity markets closed the financial year 2024 on a positive note, driven by favorable global cues.

Today, the domestic stock market will be influenced by US GDP growth and core PCE price data. Siddhartha Khemka, Head of Retail Research at Motilal Oswal, is of the view that there will be a continuation of the market’s upward trend, particularly focusing on large-cap stocks. As the April election season kicks off, attention is expected to shift towards government-centric stocks.
Nifty’s short-term upward momentum remains intact amidst high volatility. Analyst Nagaraj Shetti from HDFC Securities underscores the upcoming resistance levels at 22500-22600 in the following week, with immediate support at 22250-22200.
The S&P 500 ended the week with slight gains, marking its strongest first quarter in five years. The Dow rose by 0.12%, the S&P 500 by 0.11%, while the Nasdaq experienced a slight decline of 0.12%.

The dollar remained stable on Monday amid data indicating easing US prices, raising expectations of a potential interest rate cut by the US Federal Reserve.
ZEE is among the securities in the F&O ban list, triggered when a security breaches 95% of the market-wide position limit.
Foreign portfolio investors marginally turned net buyers with Rs 188 crore on Thursday, while domestic institutional investors purchased shares worth Rs 2,691 crore.
The rupee fell by 6 paise against the US dollar to settle at 83.39 (provisional) due to a stronger greenback and rising crude oil prices. Additionally, FII data showed a significant decrease in net shorts from Rs 90,796 crore on Wednesday to Rs 23,851 crore on Thursday.