Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Thursday. While BSE Sensex rose 450 points, Nifty50 was above 23,300. At 9:25 AM, BSE Sensex was trading at 77,104.00, up 380 points or 0.50%. Nifty50 was at 23,335.85, up 123 points or 0.53%.
The Nifty index continued its upward momentum for the second consecutive day on Wednesday with range-bound trading. Market experts indicate that upcoming US CPI and retail sales data, alongside Q3 earnings reports, will influence market direction in the immediate future.
“A sustainable move above the hurdle 23,300-23,350 levels could further strengthen the upside bounce in the market. At the lows 23,050 is going to be a crucial support for the market,” said Nagaraj Shetti of HDFC Securities.
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US markets experienced significant gains, with major indices recording their highest daily percentage increases in over two months. This followed lower December core inflation data and positive bank earnings.
Asian equities advanced on Thursday, mirroring gains in US markets, as softening core inflation in America maintained optimism for potential Federal Reserve interest rate reductions in 2024.
FPIs registered net sales of Rs 4,533 crore, whilst DIIs purchased shares worth Rs 3,682 crore. FII net short position decreased from Rs 2.94 lakh crore to Rs 2.90 lakh crore.
