stock market today, BSE Sensex and Nifty50, the Indian equity benchmark indices gained in early trade on Monday morning. While the BSE Sensex was above 82,500 after touching an all-time high of 82,725, nifty50 moved above 25,300. At 9:17 am, the BSE Sensex was trading up 201 points or 0.24% at 82,566.74. The Nifty 50 was up 62 points or 0.25% at 25,297.85.
Domestic markets continued their upward momentum last week for the third consecutive week, hitting new highs on the back of favourable indicators. However, market momentum remained somewhat subdued, primarily due to the weak performance of key banking stocks, which have a significant weight in the benchmark index.
Ajit Mishra, Senior Vice President, Research, Religare Broking said, “If banking sector participation improves, Nifty can cross 25,500 mark and head towards a new milestone of 26,000.”
Technical analysis suggests that the index can potentially reach the 25,500 level in the near future. According to Rishikesh Yedve of Asit C. Mehta Investment Intermediates, if the index maintains its position above 25,500, it can reach the range of 26,000-26,250, which is the target of the rounding bottom pattern.
In the United States, Wall Street stocks saw gains, with the Dow achieving its second consecutive all-time high close on Friday. Tesla and Amazon shares surged after the release of fresh US economic data, which has raised expectations of a modest cut in interest rates by the Federal Reserve in September. The S&P 500 rose 1.01%, the Nasdaq rose 1.13%, and the Dow added 0.55%.
Asian stock markets started quietly on Monday as investors prepared for a data-packed week culminating in the US jobs report that could influence whether expected rate cuts this month will be regular or more substantial.
Oil prices continued to slide on Monday as investors balanced the impact of OPEC+'s higher output in October, a significant drop in output from Libya, and sluggish demand in the world's two biggest oil consumers, China and the United States.
In the F&O segment, Balrampur Chini Mills is currently in a ban period. The ban period covers securities whose exposure has crossed 95% of the market-wide position limit.
Foreign portfolio investors (FPIs) emerged as net buyers on Friday, investing Rs 5,318 crore, while domestic institutional investors (DIIs) sold shares worth Rs 3,198 crore. The net long position of FIIs increased from Rs 2.1 lakh crore on Thursday to Rs 2.43 lakh crore on Friday.
Domestic markets continued their upward momentum last week for the third consecutive week, hitting new highs on the back of favourable indicators. However, market momentum remained somewhat subdued, primarily due to the weak performance of key banking stocks, which have a significant weight in the benchmark index.
Ajit Mishra, Senior Vice President, Research, Religare Broking said, “If banking sector participation improves, Nifty can cross 25,500 mark and head towards a new milestone of 26,000.”
Technical analysis suggests that the index can potentially reach the 25,500 level in the near future. According to Rishikesh Yedve of Asit C. Mehta Investment Intermediates, if the index maintains its position above 25,500, it can reach the range of 26,000-26,250, which is the target of the rounding bottom pattern.
In the United States, Wall Street stocks saw gains, with the Dow achieving its second consecutive all-time high close on Friday. Tesla and Amazon shares surged after the release of fresh US economic data, which has raised expectations of a modest cut in interest rates by the Federal Reserve in September. The S&P 500 rose 1.01%, the Nasdaq rose 1.13%, and the Dow added 0.55%.
Asian stock markets started quietly on Monday as investors prepared for a data-packed week culminating in the US jobs report that could influence whether expected rate cuts this month will be regular or more substantial.
Oil prices continued to slide on Monday as investors balanced the impact of OPEC+'s higher output in October, a significant drop in output from Libya, and sluggish demand in the world's two biggest oil consumers, China and the United States.
In the F&O segment, Balrampur Chini Mills is currently in a ban period. The ban period covers securities whose exposure has crossed 95% of the market-wide position limit.
Foreign portfolio investors (FPIs) emerged as net buyers on Friday, investing Rs 5,318 crore, while domestic institutional investors (DIIs) sold shares worth Rs 3,198 crore. The net long position of FIIs increased from Rs 2.1 lakh crore on Thursday to Rs 2.43 lakh crore on Friday.