Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, rose in trade on Tuesday. While BSE Sensex was above 78,100, Nifty50 was near 23,700. At 9:45 AM, BSE Sensex was trading at 78,144.68, up 806 points or 1.04%. Nifty50 was at 23,699.60, up 246 points or 1.05%.
On Monday, the domestic markets experienced continued selling pressure, with Nifty recording its seventh consecutive day of decline, marking the longest downward trend since February 2023.
“With Q2 earning season coming to a close and FII selling continuing, we expect Nifty to consolidate within a broad range due to the absence of any positive trigger,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
Daily chart momentum indicators display positive divergence, suggesting a potential rebound towards 23,800 levels before November expiry. Monthly expiry options data reveals increased call writing at 23,500 levels, suggesting continued weakness.
US markets showed mixed performance, with Nasdaq and S&P 500 recovering, whilst awaiting Nvidia’s quarterly results. Tesla shares increased on anticipated favourable policies. Dow declined 0.13%, whilst S&P and Nasdaq rose 0.39% and 0.60% respectively.
Asian markets demonstrated positive movement, following US markets’ trajectory. S&P 500 futures remained stable, whilst Hang Seng futures increased 0.8%. Japan’s Topix rose 0.7%, Australia’s S&P/ASX 200 advanced 0.6%, and Euro Stoxx 50 futures declined 0.1%.
FPIs recorded net sales of Rs 1,403 crore, whilst DIIs purchased shares worth Rs 2,331 crore. FII net short position decreased from Rs 2.21 lakh crore to Rs 2.17 lakh crore.
Securities under ban include ABFRL, Granules, GNFC, Hindustan Copper, and Aarti Industries.