Stock market today: BSE Sensex drops 250 points; Nifty50 below 22,700 – Times of India

Stock market today: BSE Sensex drops 250 points; Nifty50 below 22,700 - Times of India

Stock market today: BSE Sensex And Nifty, the benchmark index of the Indian stock market, opened in the red on Friday with the 30-share index down 250 points. Nifty50 22,700 going down. At 9:25 am, the BSE Sensex was trading down 156 points, or 0.21 percent, at 74,882.02. The Nifty 50 was down 51 points, or 0.22 percent, at 22,702.65.
Equity markets Wednesday continued its upward trend with active movement in individual stocks. Rajesh Bhosle, technical analyst at Angel One, suggests stock-specific trades with an appropriate exit strategy, advising caution amid market uncertainty.
Resistance and support levels are likely to be at 22,700-22,750 and 22,600 respectively, with a possible rally towards 23,000 in the short term.
Markets will keep a close eye on the Consumer Price Index (CPI). Inflation Numbers and IIP data Due to be released later in the day.
U.S. stocks closed higher on Thursday, led by momentum in tech-related stocks, while Asian equities advanced after gains in U.S. stocks on Friday. Escalating tensions in the Middle East pushed up oil prices, affecting supplies from the region.
The yen was struggling near a 34-year low on Friday, with US Treasury yields nearing a five-month high as well as the dollar. F&O restricted stocks for the day include SAIL, Balrampur Sugar Mills, Exide Industries, Hindustan Copper, Vodafone Idea, Nalco, India Cements, and ZEE.
Foreign portfolio investors were net buyers of Rs 2,778 crore on Wednesday, while DIIs bought shares worth Rs 163 crore. The rupee closed flat at 83.31 against the US dollar on Wednesday.
FIIs’ net long position rose to Rs 51,282 crore on Wednesday from Rs 4,023 crore on Tuesday. IT services major TCS is set to open its fourth quarter earnings season on Friday.

Business news,tcs results,Stock market today,Nifty 50,Inflation,IIP data,Equity markets,Pimp Street,BSE Sensex

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