Stock market today: BSE Sensex opens in red; Nifty50 below 25,100 – Times of India

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Friday. While BSE Sensex was just above 82,000, Nifty50 was below 25,100. At 9:18 AM, BSE Sensex was trading at 82,016.55, down 185 points or 0.22%. Nifty50 was at 25,092.60, down 53 points or 0.21%.
Following a 4% increase over the past month, the market has taken a breather and is trading at higher levels, with every dip being bought.
Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal, said, “We expect this consolidation to continue in the near term on the back of healthy domestic cues despite global volatility and key US Job data lined up.”
Nagaraj Shetti of HDFC Securities notes that the short-term trend of Nifty remains choppy with a weak bias, and further weakness could find key lower support around 25000-24900 levels before showing a sustainable upside bounce from the lows. Immediate resistance is placed at 25300.
Global markets showed mixed performance, with S&P 500 futures falling 0.1%, Hang Seng futures remaining unchanged, Japan’s Topix falling 0.2%, Australia’s S&P/ASX 200 rising 0.2%, and Euro Stoxx 50 futures falling 0.5%.
In the forex market, the euro remained unchanged at $1.1111, while the Japanese yen rose 0.2% to 143.22 per dollar. The offshore yuan and the Australian dollar were little changed at 7.0874 and $0.6740 per dollar, respectively.
Oil prices inched higher in early Friday trading as investors considered a significant draw from U.S. crude stocks and a postponement of production increases by OPEC+ producers, while also factoring in mixed U.S. employment figures. Brent crude futures increased by 19 cents, or 0.26%, reaching $72.88 at 0010 GMT, while U.S. West Texas Intermediate crude futures climbed by 22 cents, or 0.32%, to $69.37.
Several stocks are in the F&O ban period today, including Balrampur Chini Mills, Hindustan Copper, ABFRL, RBL Bank, Chambal Fertilisers, Bandhan Bank, and Biocon. These securities have crossed 95% of the market-wide position limit.
Foreign portfolio investors turned net buyers at Rs 689 crore on Thursday, while DIIs bought shares worth Rs 2970 crore.
The net long position of FIIs reduced from Rs 2.19 lakh crore on Wednesday to Rs 2.09 lakh crore on Thursday.