Stock Market Today: India’s stock benchmark index BSE Sensex and Nifty50 ended in red today. The BSE Sensex fell below the 77,600 mark, while the NIFTY50 was below the 23,500. BSE Sensex ended the day with a 198 points or 0.25% drop of 77,860.19. The NIFTY50 was closed at 23,559.95, down 43 points or 0.18%.
Indian stocks fell on Thursday, and Nifty settled at 23,603 amid a variety of global indicators and vigilance before RBI’s monetary policy announcement on Friday.
Market participants were awaiting the results of the MPC meeting following the recent decline. Although the 25 basis point rate drop appears to be taken into consideration, observers are scrutinizing the committee’s position on growth and inflation.
“In addition, corporate revenue and global cues are likely to continue to increase volatility. Given this background, we are focusing on inventory selection and trade control, maintaining a positive bias,” Ajit said. Mishra said.
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Nifty’s short-term upward trend remains stable. The current weakness could soon close the approximately 23,500-23,450 levels. According to HDFC Securities’ Nagaraj Shetti, clear moves of over 23,800 could trigger even more upward momentum.
US Market: The S&P 500 and NASDAQ closed higher while DOW fell after volatile trading on Thursday.
Asian stocks fell on Friday after a silenced trading on Wall Street as investors awaited US employment figures to clarify future rate decisions.
Gold prices were stabilised on Friday as they approached peak levels and were poised to increase six times in a row each week as concerns over trade disputes helped boost safe haven appeals. Investors remained focused on future non-farm pay data to assess the US economic situation.
Foreign portfolio investors registered net sales of Rs 3,549 on Thursday. Domestic institutional investors have purchased shares worth Rs 2,721.
The FII net short position has dropped from Rs 1.53 on Tuesday to Rs 1.49 on Wednesday.
