Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Tuesday. While BSE Sensex moved above 77,150 levels, Nifty50 crossed 23,500 for the first time. At 9:19 AM, BSE Sensex was trading at 77,150.55, up 158 points or 0.20%. Nifty50 was at 23,523.50, up 58 points or 0.25%.
The Indian stock markets continued their upward trend on Friday last week, supported by positive global cues and sustained domestic buying interest.
Siddhartha Khemka, Head – Retail Research at Motilal Oswal, has expressed optimism, stating, “We expect market uptrend to continue this week supported by positive macro trends, expectation of sustained government spending and policy continuity, healthy monsoon and strong earnings.”
Technical analysis by Nagaraj Shetti of HDFC Securities indicates that a decisive move above 23,500 levels could trigger an upside breakout, while a slide below 23,300 levels might lead to a downside breakout from the current range-bound movement.
Global markets also showed strength, with the S&P 500 and Nasdaq reaching record highs driven by a surge in technology stocks. Major companies like Apple and Microsoft recovered from initial declines to finish higher. Oil prices continued their upward trend, supported by a positive demand outlook and expectations that OPEC+ producers might delay or reconsider their plans to increase oil supplies.
Foreign portfolio investors turned net buyers, purchasing shares worth Rs 2,175 crore on Friday, while domestic institutional investors bought shares worth Rs 656 crore.
The Indian stock markets continued their upward trend on Friday last week, supported by positive global cues and sustained domestic buying interest.
Siddhartha Khemka, Head – Retail Research at Motilal Oswal, has expressed optimism, stating, “We expect market uptrend to continue this week supported by positive macro trends, expectation of sustained government spending and policy continuity, healthy monsoon and strong earnings.”
Technical analysis by Nagaraj Shetti of HDFC Securities indicates that a decisive move above 23,500 levels could trigger an upside breakout, while a slide below 23,300 levels might lead to a downside breakout from the current range-bound movement.
Global markets also showed strength, with the S&P 500 and Nasdaq reaching record highs driven by a surge in technology stocks. Major companies like Apple and Microsoft recovered from initial declines to finish higher. Oil prices continued their upward trend, supported by a positive demand outlook and expectations that OPEC+ producers might delay or reconsider their plans to increase oil supplies.
Foreign portfolio investors turned net buyers, purchasing shares worth Rs 2,175 crore on Friday, while domestic institutional investors bought shares worth Rs 656 crore.
Source Agencies
