Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Thursday. While BSE Sensex was above 78,300, Nifty50 was near 23,700. At 9:22 AM, BSE Sensex was trading at 78,341.20, up 70 points or 0.089%. Nifty50 was at 23,708.70, up 12 points or 0.052%.
Indian markets concluded flat on Wednesday in red as caution prevailed ahead of today’s Reserve Bank monetary policy announcement.
“Going forward, the Nifty index may continue to consolidate after its recent surge, but the broader trend remains positive unless there is a decisive close below the 23,400 level,” said Ajit Mishra – SVP, Research, Religare Broking.
The index shows potential movement towards 24,050 near-term, with support at 23,500 showing maximum put writing, according to Rupak De of LKP Securities.
US stock market indices finished higher on Wednesday, recovering from earlier losses despite Alphabet’s disappointing results.
Also Read | Top stocks to buy today: Stock recommendations for February 6, 2025
Asian markets showed positive momentum on Thursday, following gains in Wall Street’s stocks and bonds during a week affected by trade tensions, disappointing technology sector earnings and mixed US economic indicators.
Gold prices increased slightly on Thursday, remaining close to the record peak achieved in the previous session. The ongoing US-China trade tensions enhanced safe-haven appeal, whilst investors anticipated employment data to assess the US economic condition.
Foreign portfolio investors registered net sales of Rs 1,682 crore on Wednesday, whilst domestic institutional investors purchased shares worth Rs 992 crore.
The net short position of FIIs decreased from Rs 1.53 lakh crore on Tuesday to Rs 1.49 lakh crore on Wednesday.
