Sunday, February 9, 2025
HomeBusinessStock market today: BSE Sensex surges in opening trade; Nifty50 above 25,500

Stock market today: BSE Sensex surges in opening trade; Nifty50 above 25,500

-



Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, surged in trade on Friday. While BSE Sensex was above 83,400, Nifty50 was trading over 25,500. At 9:17 AM, BSE Sensex was at 83,486.56, up 302 points or 0.36%. Nifty50 was at 25,516.60, up 101 points or 0.40%.
The Indian stock market reacted positively to the US Federal Reserve’s decision to cut interest rates by 50 basis points, with the Nifty index reaching new highs above 25,600 on Thursday.
“While the US Fed policy is out, investors will look for the other three central banks’ outcomes, namely BOJ, BOE, and China. Overall we expect the market to stay in a range with positive bias,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
Technical analysis by Nagaraj Shetti of HDFC Securities suggests that the small negative candle formed on the daily chart with a long upper shadow indicates a false upside breakout of the range movement at 25,500 levels. Having rejected sharply from the new highs, a minor dip in the short term is possible.
Global markets, including the S&P 500, Nasdaq 100, and Dow Jones Industrial Average, all rose, while the MSCI World Index and Bloomberg Magnificent 7 Total Return Index also posted gains. The euro and British pound strengthened against the US dollar, while the Japanese yen fell slightly.
Oil prices were on track to end higher for a second straight week, supported by the US interest rate cut and declining global stockpiles. Brent futures and US crude both registered weekly gains.
Foreign portfolio investors (FPIs) turned net sellers, offloading shares worth Rs 2,547 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 2,013 crore. The net long position of FIIs reduced from Rs 2.3 lakh crore on Wednesday to Rs 2.23 lakh crore on Thursday.





Source link

LATEST POSTS

Dividend stocks to buy: Do dividend yields (DV) now justify buying PSU stocks? 5 stocks with an upside potential of up to 25% and...

SynopsisFrom being the most sorted set of stocks in the first half of 2024, PSU stocks are again being relegated to the bad books...

India’s total trade to reach USD 1.8 trillion by 2033, growing at 6.4% CAGR: Report

New Delhi: India's total trade is expected to grow at a compound annual growth rate (CAGR) of 6.4 per cent through 2033, reaching USD...

The list of major companies laying off staff in the new year, including Boeing, Meta, Microsoft, and BP

Layoffs and other workforce reductions are continuing in 2025, following two years of significant job cuts across tech, media, finance, manufacturing, retail, and energy.While...

Bajaj Auto to ride into e-rickshaw segment by end of ongoing fiscal

NEW DELHI: Bajaj Auto is gearing up to enter the domestic e-rickshaw segment by the end of this fiscal to tap a...

Most Popular

spot_img