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Stock market today: BSE Sensex and Nifty50, the Indian benchmark equity indices, opened in green on the last trading day of the fiscal year. Markets will be closed on account of Good Friday holiday on March 29. BSE Sensex surged 150 points in opening trade, crossing the 73,000 level. Nifty50 also jumped over 50 points. At 9:16 AM, BSE Sensex was trading at 73,149.34, up 153 points or 0.21%.Nifty50 was at 22,179.50, up 56 points or 0.25%.
Equity markets showed a positive rebound on Wednesday driven by buying in index heavyweights. Analysts have warned of potential volatility ahead due to the monthly derivatives expiry and the financial year-end approaching. Siddhartha Khemka, Head of Retail Research at Motilal Oswal says that the upcoming global economic data releases on Thursday, including UK GDP Data, US core PCE, Q4 GDP data, and initial jobless claim data are the key things to watch out for.
Jatin Gedia of Sharekhan advises utilizing any dip towards 22100 – 22060 as a buying opportunity for a target of 22215 – 22250 amidst divergent signals from daily and hourly momentum indicators.
In Asian markets, Japanese shares slipped due to ex-dividend trading, while Australian stocks reached a new high. US stock markets closed with gains on Wednesday, with the Dow leading the rally and the S&P 500 setting a new closing record.
The US dollar strengthened against major currencies as a Federal Reserve official indicated a cautious approach towards rate cuts. Oil prices saw a slight increase after two consecutive days of decline, driven by reassessment of US crude oil and gasoline inventories data. Brent crude futures for May and US West Texas Intermediate (WTI) crude futures for May delivery both saw gains.
Hindustan Copper and ZEE were among the stocks in the F&O ban period on Thursday. Foreign portfolio investors turned net buyers for the second consecutive day, while DIIs also bought shares on Wednesday. The Indian rupee closed at 83.33 against the US dollar, reflecting strength in the American currency.
FII data showed an increase in net short positions from Rs 75,404 crore on Tuesday to Rs 90,796 crore on Wednesday.
Equity markets showed a positive rebound on Wednesday driven by buying in index heavyweights. Analysts have warned of potential volatility ahead due to the monthly derivatives expiry and the financial year-end approaching. Siddhartha Khemka, Head of Retail Research at Motilal Oswal says that the upcoming global economic data releases on Thursday, including UK GDP Data, US core PCE, Q4 GDP data, and initial jobless claim data are the key things to watch out for.
Jatin Gedia of Sharekhan advises utilizing any dip towards 22100 – 22060 as a buying opportunity for a target of 22215 – 22250 amidst divergent signals from daily and hourly momentum indicators.
In Asian markets, Japanese shares slipped due to ex-dividend trading, while Australian stocks reached a new high. US stock markets closed with gains on Wednesday, with the Dow leading the rally and the S&P 500 setting a new closing record.
The US dollar strengthened against major currencies as a Federal Reserve official indicated a cautious approach towards rate cuts. Oil prices saw a slight increase after two consecutive days of decline, driven by reassessment of US crude oil and gasoline inventories data. Brent crude futures for May and US West Texas Intermediate (WTI) crude futures for May delivery both saw gains.
Hindustan Copper and ZEE were among the stocks in the F&O ban period on Thursday. Foreign portfolio investors turned net buyers for the second consecutive day, while DIIs also bought shares on Wednesday. The Indian rupee closed at 83.33 against the US dollar, reflecting strength in the American currency.
FII data showed an increase in net short positions from Rs 75,404 crore on Tuesday to Rs 90,796 crore on Wednesday.
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