stock market today:Indian Equity Benchmark Index, BSE Sensex Nifty 50 and BSE Sensex witnessed a rise in early trade on Wednesday. nifty50 was at 24,150 at the close. At 9:16 am, the BSE Sensex was trading 80 points or 0.10% higher at 79,036.42. The Nifty 50 was at 24,145.85, up 7 points or 0.028%.
According to Siddhartha Khemka, Head of Retail Research, Motilal Oswal, “We expect the market to continue consolidating in the absence of any major positive trigger. However, investors should use this dip as an opportunity to buy quality stocks, especially large-cap stocks where valuations are still comfortable.”
Technical analysis suggests that the recent swing high of 24,472 could be the lower top for Nifty on the daily time frame chart. According to Nagaraj Shetti of HDFC Securities, a fall below the support levels of 24,000-23,900 could trigger a significant decline in the market, with immediate resistance at 24,350 levels.
Global Market Showing a mixed trend, S&P 500 futures were steady, while Hang Seng futures and Japan's Topix rose. Australian S&P/ASX 200 and Euro Stoxx 50 futures also recorded gains. In the foreign exchange market, the euro and the Australian dollar were little changed, while the Japanese yen fell slightly against the dollar.
Oil prices jumped on Wednesday, led by expectations of a drop in U.S. crude oil and gasoline inventories. The market is closely tracking a possible escalation of the Middle Eastern war, which could have an impact on global oil supplies. Brent crude futures rose to $80.99 a barrel, and U.S. West Texas Intermediate crude rose to $78.73 a barrel.
Several stocks are under F&O restrictions today, including India Cements, AB Capital, Birla Soft, IndiaMART, RBL Bank, Sun TV, Chambal Fertilizers, ABFRL, Manappuram, LIC Housing Finance, PNB, Granules, SAIL, Bandhan Bank, Biocon and Aarti Industries. These securities have crossed 95% of the market-wide position limits.
Foreign portfolio investors (FPIs) turned net sellers on Tuesday, selling shares worth Rs 2,107 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,240 crore.
Major companies like HAL, Ola Electric, Mazagon Dock Shipbuilders and Bandhan Bank will announce their first quarter results on Wednesday.
According to Siddhartha Khemka, Head of Retail Research, Motilal Oswal, “We expect the market to continue consolidating in the absence of any major positive trigger. However, investors should use this dip as an opportunity to buy quality stocks, especially large-cap stocks where valuations are still comfortable.”
Technical analysis suggests that the recent swing high of 24,472 could be the lower top for Nifty on the daily time frame chart. According to Nagaraj Shetti of HDFC Securities, a fall below the support levels of 24,000-23,900 could trigger a significant decline in the market, with immediate resistance at 24,350 levels.
Global Market Showing a mixed trend, S&P 500 futures were steady, while Hang Seng futures and Japan's Topix rose. Australian S&P/ASX 200 and Euro Stoxx 50 futures also recorded gains. In the foreign exchange market, the euro and the Australian dollar were little changed, while the Japanese yen fell slightly against the dollar.
Oil prices jumped on Wednesday, led by expectations of a drop in U.S. crude oil and gasoline inventories. The market is closely tracking a possible escalation of the Middle Eastern war, which could have an impact on global oil supplies. Brent crude futures rose to $80.99 a barrel, and U.S. West Texas Intermediate crude rose to $78.73 a barrel.
Several stocks are under F&O restrictions today, including India Cements, AB Capital, Birla Soft, IndiaMART, RBL Bank, Sun TV, Chambal Fertilizers, ABFRL, Manappuram, LIC Housing Finance, PNB, Granules, SAIL, Bandhan Bank, Biocon and Aarti Industries. These securities have crossed 95% of the market-wide position limits.
Foreign portfolio investors (FPIs) turned net sellers on Tuesday, selling shares worth Rs 2,107 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,240 crore.
Major companies like HAL, Ola Electric, Mazagon Dock Shipbuilders and Bandhan Bank will announce their first quarter results on Wednesday.