Stock market today: BSE Sensex ends 150 points up; Nifty50 near 24,150

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, closed in green on Wednesday. While BSE Sensex moved above 79,150, Nifty50 was near 24,150. BSE Sensex ended the day at 79,105.88, up 150 points or 0.19%. Nifty50 closed the day at 24,143.75, up 5 points or 0.020%.
The top BSE Sensex gainers were, TCS, HCL Tech, Infosys, Tech Mahindra, M&M, Tata Motors, Bharti Airtel and SBI.The top BSE Sensex losers were Ultratech Cement, JSW Steel, Tata Steel, Adani Ports SEZ, Power Grid and Bajaj Finserv.
Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, "We expect the market to continue its consolidation mode due to the lack of any major positive trigger. However, investors should use this dip as a buying opportunity in quality stocks especially large-cap where valuations are still comfortable."
Technical analysis suggests that the recent swing high of 24,472 could be a lower top for the Nifty on the daily time frame chart. A decline below the support levels of 24,000-23,900 might trigger a significant downward correction in the market, with immediate resistance placed at 24,350 levels, as per Nagaraj Shetti of HDFC Securities.
Several stocks were under the F&O ban today, including India Cements, AB Capital, Birla Soft, Indiamart, RBL Bank, Sun TV, Chambal Fertilisers, ABFRL, Manappuram, LIC Housing Finance, PNB, Granules, SAIL, Bandhan Bank, Biocon, and Aarti Industries. These securities have crossed 95% of the market-wide position limit.
Foreign portfolio investors (FPIs) turned net sellers, offloading shares worth Rs 2,107 crore on Tuesday, while domestic institutional investors (DIIs) bought shares worth Rs 1,240 crore.