Stock market today: BSE Sensex and Nifty50, the Indian benchmark equity indices, opened in red on Friday ahead of the crucial RBI monetary policy announcement. While BSE Sensex dipped 200 points, Nifty50 was around 22,450. At 9:20 AM, BSE Sensex was trading at 73,990.58, down 237 points or 0.32%. Nifty50 was at 22,439.70, down 75 points or 0.33%.
Equity markets showed signs of recovery on Thursday amidst volatile trading, driven by increased buying activity in private banks and IT stocks.The market’s response today will be influenced by the outcome of the RBI’s monetary policy decision.
According to Siddhartha Khemka, Head of Retail Research at Motilal Oswal, Nifty has been trading within a narrow range at higher levels recently, with the broader markets staging a strong comeback following a significant correction. He maintains a positive outlook on the market and the view that any potential dips as buying opportunities.
Analysts predict that the Nifty50 is approaching the upper end of a rising channel, with key support levels at 22350–22300.
In the US, all major stock indexes experienced declines of over 1% on Thursday, with the S&P 500 recording its largest drop since February 13. This was attributed to cautious comments from the US Federal Reserve officials on interest rate cuts and anticipation for the upcoming US monthly jobs report.
Asian markets also faced pressure, mirroring the US decline, amid uncertainties over interest rates and geopolitical tensions.
Oil prices continued to rise, supported by global geopolitical tensions and improving economic conditions. The US dollar remained stable against other currencies on Friday, with traders awaiting key economic data and monitoring developments in the Middle East.
Foreign investors continued to be net sellers, while domestic institutions sold shares worth Rs 893 crore. The rupee strengthened against the US dollar on Thursday, closing at 83.39. Foreign institutional investors’ net short position increased from Rs 31,757 crore on Wednesday to Rs 33,628 crore on Thursday.
Equity markets showed signs of recovery on Thursday amidst volatile trading, driven by increased buying activity in private banks and IT stocks.The market’s response today will be influenced by the outcome of the RBI’s monetary policy decision.
According to Siddhartha Khemka, Head of Retail Research at Motilal Oswal, Nifty has been trading within a narrow range at higher levels recently, with the broader markets staging a strong comeback following a significant correction. He maintains a positive outlook on the market and the view that any potential dips as buying opportunities.
Analysts predict that the Nifty50 is approaching the upper end of a rising channel, with key support levels at 22350–22300.
In the US, all major stock indexes experienced declines of over 1% on Thursday, with the S&P 500 recording its largest drop since February 13. This was attributed to cautious comments from the US Federal Reserve officials on interest rate cuts and anticipation for the upcoming US monthly jobs report.
Asian markets also faced pressure, mirroring the US decline, amid uncertainties over interest rates and geopolitical tensions.
Oil prices continued to rise, supported by global geopolitical tensions and improving economic conditions. The US dollar remained stable against other currencies on Friday, with traders awaiting key economic data and monitoring developments in the Middle East.
Foreign investors continued to be net sellers, while domestic institutions sold shares worth Rs 893 crore. The rupee strengthened against the US dollar on Thursday, closing at 83.39. Foreign institutional investors’ net short position increased from Rs 31,757 crore on Wednesday to Rs 33,628 crore on Thursday.