Stock market at the moment: BSE Sensex, Nifty50 in red after hitting fresh lifetime highs

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Stock market at the moment: BSE Sensex and Nifty50, the Indian fairness benchmark indices, hit lifetime highs in opening commerce on Wednesday, earlier than slipping in red. While BSE Sensex hit an all-time excessive of 80,481.36, Nifty50 noticed a fresh excessive of 24,461.05. At 9:20 AM, BSE Sensex was buying and selling at 80,195.88, down 156 factors or 0.19%. Nifty50 was at 24,397.40, down 36 factors or 0.15%.
According to Nagaraj Shetti of HDFC Securities, the Nifty’s underlying pattern stays constructive.After surpassing the essential overhead resistance of 24400 ranges (1.618% Fibonacci extension), the Nifty might doubtlessly attain one other important resistance degree of 24960 (1.786% Fibonacci extension) in the close to future. The instant help degree is at 24250.
“Overall we expect markets to trade with a positive bias and take cues from upcoming inflation data, Q1FY25 earnings, and budget. Pharma sector is likely to remain in focus over next few days on back comfortable valuation and expectation of healthy earning growth in Q1,” stated Siddhartha Khemka, Head – Retail Research, Motilal Oswal
In world markets, S&P 500 futures had been regular as of 9:43 a.m. Tokyo time, whereas Japan’s Topix remained unchanged. Australia’s S&P/ASX 200 skilled a 0.5% decline, and Euro Stoxx 50 futures rose by 0.3%.
The greenback strengthened on Wednesday after recovering from a three-week low following Federal Reserve Chair Jerome Powell’s cautious statements relating to the timing of potential rate of interest cuts. Traders carefully monitored the New Zealand greenback for indications in regards to the timing of potential coverage changes forward of the central financial institution’s fee choice.
Several shares are beneath the F&O ban at the moment, together with India Cements, IEX, ABFRL, Bandhan Bank, PEL, GNFC, Chambal Fertilisers, Indus Tower, and Balrampur Chini Mills.
Foreign portfolio buyers turned web patrons, buying shares price Rs 314 crore on Tuesday, whereas home institutional buyers additionally purchased shares price Rs 1,416 crore. The web lengthy place of FIIs elevated from Rs 3.77 lakh crore on Monday to Rs 3.85 lakh crore on Tuesday.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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