Stock market today: BSE Sensex hits all time-high, crosses 75,000; Nifty50 above 22,750 – Times of India

by The Technical Blogs


Stock market today: BSE Sensex and Nifty50, the Indian benchmark equity indices, hit all time highs in opening trade on Tuesday. While BSE Sensex crossed the 75,000 milestone for the first time, Nifty50 too hit a high of 22,765.10. At 9:22 AM, BSE Sensex was trading at 74,840.76, up 98 points or 0.13%. Nifty50 was at 22,690.65, up 24 points or 0.11%.
Equity markets opened the week on a positive note, registering a gain of over half a percent in response to favorable cues.Analysts suggest that amidst mixed global signals, short-term fluctuations may occur, presenting traders with opportunities to add quality stocks.
A bullish momentum is expected to continue in the market, with the possibility of the rally extending to 23,000 levels. Nifty’s immediate support levels are identified at 22,700 and 22,620, while resistance is anticipated at 22,800 and 22,900 levels, stated Asit C, Mehta Investment.
Nifty’s technical analysis reveals that it is approaching the upper band of the rising wedge, potentially acting as a resistance point in the short term. The index is likely to consolidate within a specific range, with support at 22,500. India VIX, a gauge of market fear, rose by 2.40% to settle at 11.61 levels.
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In the US, stock markets closed nearly unchanged following a volatile session on Monday, with attention turning to upcoming inflation data and the start of first-quarter earnings reports. The Dow decreased by 0.03%, the S&P declined by 0.04%, while the Nasdaq saw a minor increase of 0.03%.
Asian markets experienced gains on Tuesday, mirroring a quiet trading day in the US, with positive movements in Treasuries ahead of crucial inflation updates. Stock futures in various regions showed mixed movements, with Hang Seng and Japan’s Topix both rising by 0.3%, while Australia’s S&P/ASX 200 increased by 0.4%.
Oil prices climbed in early Asian trading as hopes for a ceasefire in Gaza faded, putting pressure on the Middle East. The dollar remained uncertain on Tuesday, failing to capitalize on rising US Treasury yields, impacting the yen’s performance.
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Foreign portfolio investors turned net sellers on Monday, offloading shares worth Rs 681 crore after a previous day of buying. Domestic institutional investors purchased shares amounting to Rs 3,470 crore.
The rupee closed flat against the US dollar on Monday at 83.31, as positive domestic equities were counteracted by the dollar’s strength in the global market. Foreign Institutional Investors reduced their net short position from Rs 35,190 crore on Friday to Rs 23,636 crore on Monday.


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