Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Monday. While BSE Sensex was below 82,000, Nifty50 was below 24,750. At 9:18 AM, BSE Sensex was trading at 81,964.22, down 169 points or 0.21%. Nifty50 was at 24,728.20, down 40 points or 0.16%.
Last week, the market maintained its upward trajectory for the fourth straight week, advancing approximately half a percent during consolidation. Investors will be watching Manufacturing and services PMI, with primary attention on the US Fed meeting, where a 25 basis point rate reduction is anticipated.
From a technical perspective, the outlook remains robust, with targets potentially reaching 25,000 and beyond in the near term, whilst finding support at 24,550.
US markets finished relatively flat on Friday, with the S&P 500 and Dow recording weekly losses, whilst the Nasdaq achieved its fourth consecutive weekly gain.
Asian markets displayed mixed performance early Monday, awaiting Chinese economic data. Notable movements include:
Oil prices retreated from recent highs as investors await the Federal Reserve meeting. The US dollar remained near three-week highs against major currencies.
Securities under ban include Granules, Manappuram, Metropolis, PVR Inox, RBL Bank, Hindustan Copper, SAIL, and Nalco.
FPIs invested Rs 2335 crore net, while DIIs sold Rs 732 crore worth of shares. FII net short position increased to Rs 60,551 crore on Friday.
