Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Wednesday. While BSE Sensex was above 76,700, Nifty50 was near 23,200. At 9:16 AM, BSE Sensex was trading at 76,753.68, up 254 points or 0.33%. Nifty50 was at 23,227.95, up 52 points or 0.22%.
Indian markets showed an upward trend on Tuesday, influenced by global market recovery and reduced domestic CPI inflation. Market sentiment is expected to focus on current earnings reports and the forthcoming union budget, with varied outlooks.
Daily charts maintain a negative pattern of lower peaks and troughs, suggesting potential formation of another lower peak during the short-term upward movement. India VIX declined 3.3% to 15.47 levels.
The S&P 500 showed slight gains whilst the Nasdaq decreased on Tuesday, as investors evaluated inflation data and corporate earnings reports. Asian markets displayed growth following modest US trading sessions.
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The dollar rally slowed on Wednesday before the US consumer inflation report. Gold prices remained steady as investors awaited US consumer price data for insights into Federal Reserve interest rate decisions.
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FPIs recorded net sales of Rs 8,132 crore on Tuesday, while DIIs purchased shares worth Rs 7,901 crore. FII net short position decreased from Rs 2.95 lakh crore to Rs 2.94 lakh crore.