Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Friday. While BSE Sensex was above 76,700, Nifty50 was above 23,250. At 9:22 AM, BSE Sensex was trading at 76,780.10, up 260 points or 0.34%. Nifty50 was at 23,289.35, up 84 points or 0.36%.
On Thursday, benchmark indices managed to eke out marginal gains on the weekly expiry day, driven by a recovery in IT majors that pushed the Nifty higher. However, analysts advise against reading too much into this bounce and recommend sticking with a “sell on rise” strategy for the index, while noting that stock-specific opportunities remain plentiful across sectors.
“At the same time, stock-specific opportunities remain plentiful across sectors, so participants should focus on maintaining balanced positions on both sides,” said Ajit Mishra – SVP, Research, Religare Broking.
On the upside, immediate resistance is observed at 23,300, followed by a critical hurdle near 23,500, according to Hardik Matalia of Choice Broking.
US stocks ended higher, with the S&P 500 rising to a record closing high on Thursday, as investors assessed corporate earnings and digested comments from President Donald Trump.
Asian equities rose, following a rebound in technology stocks that pushed Wall Street to a record high. Oil fell after President Trump urged OPEC to lower crude prices and said he will push for interest-rate cuts.
Gold prices edged higher and were on track for a fourth straight weekly gain on Friday, as uncertainty about U.S. President Donald Trump’s trade plans took wind out of the dollar’s sail, boosting demand for the safe-haven asset.
Foreign portfolio investors turned net sellers at Rs 5,462 crore on Thursday, while DIIs bought shares worth Rs 3,713 crore.
The net short of FIIs reduced from Rs 3.5 lakh crore on Wednesday to Rs 3.28 lakh crore on Thursday.
