Stock market today: On Thursday, the key Indian equity indices, the BSE Sensex and Nifty50, opened higher. The Nifty50 was close to 23,800, while the BSE Sensex was around 78,700. The BSE Sensex was up 223 points, or 0.28%, at 78,730.21 at 9:17 AM. The Nifty50 was up 68 points, or 0.29%, at 23,810.60.
Indian markets saw broad sector gains on Wednesday, marking a strong start to 2025. Rupak De, Senior Technical Analyst at LKP Securities, observed the day's erratic yet encouraging trading trend. The index is up for the second straight day, suggesting that short-term mood is solid. The index's position below the 200-day moving average (200 DMA) continues to be the main obstacle, though. Resistance to the current rally could be found between 23,900 and 24,000. An extension towards 24,500 can be triggered by a clear move above 24,000. Support is located at 23,550 on the downside, according to De.
According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, the index has displayed a positive turnaround pattern from a technical analysis standpoint after a brief negative correction.
After a disappointing end to what was otherwise an extraordinary 2024 for global share markets, Asian stocks braced for a cautious start to the New Year.
Following a steep decrease in mainland Chinese indexes on the last trading day of December, Shanghai futures saw a decline. The year-end slump that lowered large-cap market valuations by more than a trillion dollars saw the S&P 500 and Nasdaq 100 indices suffer their fourth consecutive session of losses.
While investors anticipated further information about the U.S., gold had a strong start to 2024 after an exceptional year. The direction of interest rates set by the Federal Reserve and the trade policy of President-elect Donald Trump.
On the first day of 2025, Indian shares worth Rs 1,782.71 crore were sold by foreign institutional investors (FIIs), while on Wednesday, domestic institutional investors (DIIs) purchased shares worth Rs 1,690.37 crore.
