Business
Stock market today: BSE Sensex crosses 82,600; Nifty50 also at lifetime high
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in opening trade on Friday scaling lifetime highs. While BSE Sensex hit an all time high of 82,637.03, Nifty50 saw a lifetime high of 25,257.65. At 9:21 AM, BSE Sensex was trading at 82,390.52, up 256 points or 0.31%. Nifty50 was at 25,236.60, up 85 points or 0.34%.
Analysts anticipate the stock market’s gradual rise to persist as the market extended its winning streak to 11 days.The Q1 GDP data will be released later today and the market is expected to take cues from it in the coming week.
Rajesh Bhosale, Equity Technical Analyst at Angel One, notes, “Nifty has consistently maintained the 25,000 level, and as long as this support holds, a positive bias should be retained. However, a break below 25000 could lead to weakness towards 24850 or lower.”
In the United States, stocks closed mixed on Thursday following strong economic data. The Dow Jones Industrial Average hit a record high, while the Nasdaq Composite slipped 0.23% as Nvidia’s forecast failed to impress investors despite being largely in line with expectations.
Asian markets rose on Friday, buoyed by the positive US growth figures, which suggested the Federal Reserve is successfully orchestrating a soft landing for the economy. S&P 500 futures remained steady, while the Hang Seng futures edged up 0.1%. Japan’s Topix and Australia’s S&P/ASX 200 also posted gains, and Euro Stoxx 50 futures climbed 0.9%.
Oil prices held steady in early Friday trading as investors assessed supply concerns in the Middle East against indications of weakening demand. The US dollar traded near a one-week high against major currencies, poised to end a five-week losing streak following robust economic data that tempered expectations for aggressive Fed rate cuts.
Foreign portfolio investors turned net buyers on Thursday, purchasing shares worth Rs 3,259 crore, while domestic institutional investors bought shares worth Rs 2,690 crore.
FIIs’ net long position increased from Rs 1.34 lakh crore on Wednesday to Rs 2.1 lakh crore on Thursday.
Analysts anticipate the stock market’s gradual rise to persist as the market extended its winning streak to 11 days.The Q1 GDP data will be released later today and the market is expected to take cues from it in the coming week.
Rajesh Bhosale, Equity Technical Analyst at Angel One, notes, “Nifty has consistently maintained the 25,000 level, and as long as this support holds, a positive bias should be retained. However, a break below 25000 could lead to weakness towards 24850 or lower.”
In the United States, stocks closed mixed on Thursday following strong economic data. The Dow Jones Industrial Average hit a record high, while the Nasdaq Composite slipped 0.23% as Nvidia’s forecast failed to impress investors despite being largely in line with expectations.
Asian markets rose on Friday, buoyed by the positive US growth figures, which suggested the Federal Reserve is successfully orchestrating a soft landing for the economy. S&P 500 futures remained steady, while the Hang Seng futures edged up 0.1%. Japan’s Topix and Australia’s S&P/ASX 200 also posted gains, and Euro Stoxx 50 futures climbed 0.9%.
Oil prices held steady in early Friday trading as investors assessed supply concerns in the Middle East against indications of weakening demand. The US dollar traded near a one-week high against major currencies, poised to end a five-week losing streak following robust economic data that tempered expectations for aggressive Fed rate cuts.
Foreign portfolio investors turned net buyers on Thursday, purchasing shares worth Rs 3,259 crore, while domestic institutional investors bought shares worth Rs 2,690 crore.
FIIs’ net long position increased from Rs 1.34 lakh crore on Wednesday to Rs 2.1 lakh crore on Thursday.