Stock market today: BSE Sensex opens in red; Nifty50 above 24,800 – Times of India

Stock market today: BSE Sensex opens in red; Nifty50 above 24,800 – Times of India



Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened marginally in red on Friday. While BSE Sensex was above 81,000, Nifty50 was above 24,800. At 9:16 AM, BSE Sensex was trading at 81,029.58, down 24 points or 0.029%. Nifty50 was at 24,809.00, down 3 points or 0.010%.
Chandan Taparia of Motilal Oswal believes that the Nifty needs to hold above 24,700 to extend its move towards 25,000 and 25,100, while support levels are at 24,700 and 24,550.
“Markets are closely monitoring global indices for direction, and the recent pause in US markets ahead of the Jackson Hole Symposium is leading to some caution locally also. Technically, there are signs of consolidation in the Nifty after it failed to break the resistance at 24,850 level. Despite this, we maintain a bullish outlook on the markets and recommend focusing on selective stock picking,” said Ajit Mishra – SVP, Research, Religare Broking.
In global markets, S&P 500 futures rose 0.2%, while Hang Seng futures fell 1%. Japan’s Topix increased by 0.3%, and Australia’s S&P/ASX 200 dropped 0.4%. Euro Stoxx 50 futures remained relatively unchanged.
Several stocks are under the F&O ban today, including India Cements, Balrampur Chini Mills, GNFC, Nalco, Birla Soft, Sun TV, Aarti Industries, ABFRL, PEL, LIC Housing Finance, Hindustan Copper, Granules, Chambal Fertilisers, and RBL Bank. These securities have crossed 95% of the market-wide position limit.
Foreign portfolio investors turned net buyers, purchasing shares worth Rs 1,372 crore on Wednesday, while domestic institutional investors bought shares worth Rs 2,972 crore.
The net long position of FIIs increased from Rs 17,768 crore on Wednesday to Rs 24,869 crore on Thursday.





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