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The 23,780-23,800 range represents key resistance, say market analysts. (AI image)

Stock market today

: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Thursday. While BSE Sensex was below 77,200, Nifty50 was below 23,400. At 9:18 AM, BSE Sensex was trading at 77,172.19, down 406 points or 0.52%. Nifty50 was at 23,378.60, down 140 points or 0.59%."The Nifty's movement reflects that bears are firmly in control, using every rebound as an opportunity to short. We maintain our sell on rise stance for the index until a decisive reversal is evident, while emphasizing a selective approach for stock-specific trades," said Ajit Mishra – SVP, Research, Religare The 23,780-23,800 range represents key resistance. Support lies at the 50-weekly simple moving average near 23,300. The short-term trend remains negative below 23,800, according to Hrishikesh Yedve of Asit C Mehta Investment Intermediates.US markets showed mixed results, with Nasdaq declining amid Russia-Ukraine tensions and Target's weak performance. Asian markets opened lower on Thursday, influenced by Nvidia's conservative revenue outlook.

Asian markets showed weakness early Thursday, following subdued performance on Wall Street, particularly after Nvidia Corp.'s conservative revenue outlook. Bitcoin reached a new all-time high.The US dollar remained strong on Thursday as investors awaited additional clarity regarding US President-elect Donald Trump's policy proposals whilst evaluating potential Federal Reserve interest rate decisions.FPIs registered net sales of Rs 3,411 crore on Tuesday, whilst DIIs purchased shares worth Rs 2,784 crore.FIIs' net short position decreased from Rs 2.17 lakh crore on Monday to Rs 1.91 lakh crore on Tuesday.

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