Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Monday following weaker than expected GDP data released on Friday after market hours. While BSE Sensex went below 79,500, Nifty50 was above 24,000. At 9:16 AM, BSE Sensex was trading at 79,451.25, down 352 points or 0.44%. Nifty50 was at 24,048.05, down 83 points or 0.34%.
The domestic markets showed strong recovery on Friday, ending with gains for the second consecutive week. This week, markets are expected to respond to the lower-than-anticipated Q2 GDP figures of 5.4%, which fell short of the projected 6.5%. All eyes are also the RBI’s monetary policy meet later this week.
According to market experts, future investor sentiment will be influenced by geopolitical events and FII movements, with markets likely to maintain a confined range due to mixed global indicators and limited domestic catalysts.
Market sentiment shows improvement with the index maintaining levels above 23,870. Short-term outlook suggests sideways to positive movement, contingent on sustaining above 23,870. Resistance levels are identified at 24,400-24,500, according to LKP Securities' Jateen Trivedi.
Meanwhile, Asian equities advanced on Monday, following record-breaking sessions on Wall Street, whilst the US dollar recovered from several weeks of lows against Japanese yen and sterling, during a week critical for US interest rate decisions.
Chinese equities received additional support from strong private sector manufacturing data released on Monday, which validated the positive official manufacturing statistics published over the weekend.
The US dollar gained strength after President-elect Donald Trump cautioned BRICS nations against attempting to substitute the US currency with any alternative denomination.
The TOI Business Desk is a vigilant and dedicated team of journal...
Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
Read Less
Start a Conversation
Post comment