Stock market today
:
BSE Sensex
and Nifty50, the Indian equity benchmark indices, ouched new peaks in opening trade on Thursday. BSE Sensex crossed the 82,000 mark for the first time, and
Nifty50
too climbed the 25,000 peak to hit a new high. At 9:16 AM, BSE Sensex was trading at 81,939.85, up 199 points or 0.24%. Nifty50 was at 25,027.45, up 76 points or 0.31%.
The Nifty index gained approximately 3% in July, supported by a growth-oriented budget and consistent buying by foreign institutional investors (FIIs) for the second consecutive month.
“We expect this momentum to continue with sectorial rotation at play,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Technical analysis suggests that although the market is at its highs, there are no signs of a reversal pattern forming. However, a decisive move above the 25,100 level could lead to a sharp upside. The immediate support level is at 24,750, according to Nagaraj Shetti of HDFC Securities.
Global markets
showed mixed trends, with S&P 500 futures rising 0.6%, Hang Seng futures gaining 0.2%, and Euro Stoxx 50 futures increasing by 0.5%. However, Japan’s Topix fell 2.2%. In the forex market, the euro remained stable at $1.0828, while the Japanese yen rose slightly to 149.78 per dollar.
Oil prices increased during early Asian trading on Thursday, following the assassination of a Hamas leader in Iran, which heightened concerns about a broader Middle East conflict. Additionally, indications of robust oil demand in the U.S. contributed to the price rise. Brent crude futures climbed by 0.8% to $81.51 per barrel, and U.S. West Texas Intermediate crude futures went up by 0.9% to $78.60 per barrel.
In the Indian market, India Cements and Granules are under the F&O ban period. Foreign portfolio investors turned net sellers, offloading shares worth Rs 3,462 crore on Tuesday, while domestic institutional investors (DIIs) bought shares worth Rs 3,366 crore.
Several companies, including ITC, Sun Pharma, Tata Motors, Adani Enterprises, Adani Ports, Zomato, and Dabur, are set to announce their first-quarter results on Thursday.