Stock market today: BSE Sensex and Nifty50, the Indian benchmark indices, witnessed a positive start to the week on Monday. While BSE Sensex soared over 500 points to cross the 71,000 mark again, Nifty5o was above 21,500. This week is expected to have significant market-moving events, with Budget 2024 being the major highlight.
At 9:25 AM, BSE Sensex was trading at 71,243.53, up over 540 points or 0.77%.Nifty50 was at 21,525.55, up over 170 points or 0.81%.
Markets experienced increased volatility last week, leading to a second consecutive week of losses, primarily due to weakness in the banking sector.
The US Federal Reserve’s policy meeting outcome is scheduled for January 31. The ongoing Q3 earnings season will also contribute to stock-specific action, as several companies are set to announce their results.
The short-term trend of Nifty remains choppy with a weak bias. The market could face strong resistance around the 21500-21600 levels in the coming sessions. Any weakness from here could find support around the 21100-21000 levels in the near term, according to Nagaraj Shetti of HDFC Securities.
The S&P 500 broke its five-session streak of record highs on Friday, with Intel slumping after a bleak revenue forecast. However, US economic data showed a moderation in inflation.
The S&P 500 remained largely unchanged on Friday. Nasdaq 100 futures fell 0.3%, and the Nasdaq 100 declined 0.5%. Japan’s Topix rose 1%, Australia’s S&P/ASX 200 remained steady, and Hong Kong’s Hang Seng futures rose 0.8%.
Oil prices jumped 1% on Monday due to concerns over fuel supply after a missile struck a Trafigura-operated fuel tanker in the Red Sea. Additionally, Russian refined products exports are expected to decline as several refineries are undergoing repairs following drone attacks.
Foreign portfolio investors sold equities worth Rs 2,144 crore on Thursday. On the other hand, DIIs invested Rs 3,475 crore.
NTPC, ITC, Bajaj Finance, Adani Green, Vodafone Idea, and several other companies will announce their third-quarter results today.
At 9:25 AM, BSE Sensex was trading at 71,243.53, up over 540 points or 0.77%.Nifty50 was at 21,525.55, up over 170 points or 0.81%.
Markets experienced increased volatility last week, leading to a second consecutive week of losses, primarily due to weakness in the banking sector.
The US Federal Reserve’s policy meeting outcome is scheduled for January 31. The ongoing Q3 earnings season will also contribute to stock-specific action, as several companies are set to announce their results.
The short-term trend of Nifty remains choppy with a weak bias. The market could face strong resistance around the 21500-21600 levels in the coming sessions. Any weakness from here could find support around the 21100-21000 levels in the near term, according to Nagaraj Shetti of HDFC Securities.
The S&P 500 broke its five-session streak of record highs on Friday, with Intel slumping after a bleak revenue forecast. However, US economic data showed a moderation in inflation.
The S&P 500 remained largely unchanged on Friday. Nasdaq 100 futures fell 0.3%, and the Nasdaq 100 declined 0.5%. Japan’s Topix rose 1%, Australia’s S&P/ASX 200 remained steady, and Hong Kong’s Hang Seng futures rose 0.8%.
Oil prices jumped 1% on Monday due to concerns over fuel supply after a missile struck a Trafigura-operated fuel tanker in the Red Sea. Additionally, Russian refined products exports are expected to decline as several refineries are undergoing repairs following drone attacks.
Foreign portfolio investors sold equities worth Rs 2,144 crore on Thursday. On the other hand, DIIs invested Rs 3,475 crore.
NTPC, ITC, Bajaj Finance, Adani Green, Vodafone Idea, and several other companies will announce their third-quarter results today.
