Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, tanked in trade today. While BSE Sensex dipped over 500 points, Nifty50 was below 23,000. At 9:19 AM, BSE Sensex was at 75,626.79, down 564 points or 0.74%. Nifty50 was at 22,926.80, down 165 points or 0.72%.
The Indian stock market closed in red on Friday amid persistent selling by foreign portfolio investors (FPIs) and disappointing corporate earnings for the December quarter.
The upcoming week is crucial for both the equity markets and the economy, as the Union Budget is set to be presented on February 1, with a special trading session scheduled for real-time reactions to policy announcements.
Technical analysis indicates that the near-term trend of the Nifty remains weak, with a potential downside towards 22,800 levels if the immediate support of 22,975 is breached.
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Global markets showed mixed sentiments, with Wall Street’s main indexes closing lower on Friday as investors digested economic data and earnings reports, while preparing for a week filled with economic releases and a Federal Reserve meeting.
Asian stocks, however, rose in early trade, despite caution over a global rebound following President Donald Trump’s decision to impose tariffs and sanctions on Colombia.
Gold prices edged lower in early Asian hours on Monday as the dollar gained, while investors awaited further guidance on interest rate decisions from the U.S. Federal Reserve’s first meeting of 2025 later this week. Oil prices also fell more than 1% on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of measures to boost U.S. oil and gas output.
The dollar firmed on Monday as traders pondered the ramifications of U.S. President Donald Trump’s tariff plans at the start of a week where the Federal Reserve is widely expected to hold interest rates steady.
Foreign portfolio investors (FPIs) turned net sellers, offloading shares worth Rs 2,758 crore on Friday, while domestic institutional investors (DIIs) bought shares worth Rs 2,402 crore. The net short position of FIIs reduced from Rs 3.28 lakh crore on Thursday to Rs 3.09 lakh crore on Friday.