Stock market today: BSE Sensex surges 200 points; Nifty50 above 22,400 as bulls charge

Spread the love

Stock market today saw a bullish surge with the BSE Sensex climbing 200 points and Nifty50 crossing the 22,400 mark. BSE Sensex opened at 74,000 briefly while Nifty50 remained above 22,400. As of 9:28 AM, BSE Sensex was trading at 73,928.51, up by 190 points or 0.26%, while Nifty50 stood at 22,415.75, up by 48 points or 0.21%.

Positive momentum was observed in Indian stock markets on Tuesday despite concerns over valuations. Investors are closely monitoring earnings reports from key companies this week, with the market expected to sustain its positive trend along with specific stock movements, as indicated by Siddhartha Khemka, Head of Retail Research at Motilal Oswal.

According to a report from ET, the near-term uptrend of the Nifty remains intact, with potential buying opportunities during consolidation or minor dips, according to Nagaraj Shetti of HDFC Securities.

In the U.S., stocks closed higher on Tuesday driven by positive earnings from major companies. The Dow rose by 0.69%, the S&P gained 1.20%, and the Nasdaq advanced 1.59%. Asian shares also saw gains, with Japan’s Topix rising by 1%, Australia’s S&P/ASX 200 gaining 0.4%, and Hong Kong’s Hang Seng futures increasing by 0.3%.

Oil prices saw an early rise on Wednesday following gains from the previous session, attributed to a surprise drop in U.S. crude stocks last week indicating positive demand. Meanwhile, the dollar struggled after significant declines against the euro and sterling due to robust European activity data and cooling U.S. business growth.

Hindustan Copper, Vodafone Idea, and ZEE are in the ban period under the F&O segment. Foreign portfolio investors (FPIs) were net sellers for the second consecutive day, offloading shares worth Rs 3,044 crore on Tuesday, while domestic institutional investors (DIIs) bought shares worth Rs 2,918 crore. The rupee rose by 5 paise to close at 83.31 against the US dollar on Tuesday, supported by positive domestic markets and a soft American currency.

Various companies, including HUL, LTIMindtree, Indian Hotels, and Axis Bank, are scheduled to announce their fourth-quarter earnings on Wednesday.

For more news, visit TOI for the Latest News, City News, India News, Business News, and Sports News. For Entertainment News, TV News, and Lifestyle Tips, visit Etimes.

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *