Stock Market Today: Indian equity benchmark indices BSE Sensex and Nifty rebounded in open trading on Monday. The BSE Sensex rose over 400 points to hit an all-time high of 74,673.84, while the Nifty50 crossed 22,600. As of 10:31 am, the BSE Sensex was trading at 74,611.65, up 363 points or 0.49 per cent. Nifty50 rose 106 points or 0.47% to 22,619.40.
The benchmark index ended the first week of FY25 on a positive note, marking the third consecutive week of gains. Future market outlook will be influenced by key global and domestic economic data, including CPI and IIP numbers, US inflation rates, and unemployment claims.
Arvinder Singh Nanda, senior vice president at Master Capital, said Nifty is expected to consolidate further in the coming sessions, with resistance around 22,700-22,800 levels and support in the 22,400-22,300 range. is expected.
Analysts suggest that the Nifty’s recent consolidation amid weakness in global indicators indicates a temporal correction. They advise traders to maintain a positive bias as long as Nifty remains above the 22,200 level.
In the United States, stocks closed higher on Friday after strong employment data showed the health of the economy, potentially delaying an interest rate cut by the Federal Reserve. The Dow rose 0.8%, the S&P 500 rose 1.1% and the Nasdaq rose 1.2%.
Asian markets reflected positive sentiment on Wall Street, with stocks rising after better-than-expected U.S. jobs data. Oil prices have fallen as Israel withdrew its troops from the Gaza Strip and tensions in the Middle East eased.
Oil prices fell by more than $1 a barrel, with Brent below $90. The dollar was firm in Asian trading on Monday as US Treasury yields hit their highest level in December ahead of the release of US inflation data.
Foreign portfolio investors remained net sellers for the fourth day in a row, while domestic institutional investors sold shares worth Rs 893 crore. The Indian rupee appreciated by 8 paise against the US dollar to close at Rs 83.31 as the RBI kept the benchmark interest rate unchanged at 6.5% for the seventh consecutive time.
The net short position rose to Rs 35,190 crore on Friday from Rs 33,628 crore on Thursday, according to FII data.
The benchmark index ended the first week of FY25 on a positive note, marking the third consecutive week of gains. Future market outlook will be influenced by key global and domestic economic data, including CPI and IIP numbers, US inflation rates, and unemployment claims.
Expanding
Arvinder Singh Nanda, senior vice president at Master Capital, said Nifty is expected to consolidate further in the coming sessions, with resistance around 22,700-22,800 levels and support in the 22,400-22,300 range. is expected.
Analysts suggest that the Nifty’s recent consolidation amid weakness in global indicators indicates a temporal correction. They advise traders to maintain a positive bias as long as Nifty remains above the 22,200 level.
In the United States, stocks closed higher on Friday after strong employment data showed the health of the economy, potentially delaying an interest rate cut by the Federal Reserve. The Dow rose 0.8%, the S&P 500 rose 1.1% and the Nasdaq rose 1.2%.
Asian markets reflected positive sentiment on Wall Street, with stocks rising after better-than-expected U.S. jobs data. Oil prices have fallen as Israel withdrew its troops from the Gaza Strip and tensions in the Middle East eased.
Oil prices fell by more than $1 a barrel, with Brent below $90. The dollar was firm in Asian trading on Monday as US Treasury yields hit their highest level in December ahead of the release of US inflation data.
Expanding
The net short position rose to Rs 35,190 crore on Friday from Rs 33,628 crore on Thursday, according to FII data.
