Stock Market Updates: Sensex Off Day’s Low, Trades Flat, Nifty Above 22,900; Realty, PSBs Lead – News18
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Benchmark equity indices, the BSE Sensex and Nifty50, opened lower on Wednesday due to mixed global signals
Stock Market Updates
Sensex Update: Benchmark equity indices BSE Sensex and Nifty50 were showing modest gains after a sluggish start on Wednesday, following mixed global cues.
By 10 AM, the BSE Sensex had risen by 169 points, or 0.22%, to 76,136.43, while the Nifty50 stood at 22,993.30, up by 48 points, or 0.21%.
The BSE Midcap index gained over 1%, while the BSE Smallcap index jumped more than 2%.
On the Nifty 50, Dr. Reddy’s, Sun Pharma, Cipla, TCS, and M&M were the biggest losers, each dropping by 2-4%. Conversely, Tata Steel, NTPC, BEL, Grasim, and Hero MotoCorp emerged as the top gainers, rising by 1%.
Sameet Chavan, Head of Technical and Derivative Research at Angel One, noted that a strong support zone is forming between 22,800–22,700, with further support levels at 22,600–22,500. Immediate resistance is at 23,250, followed by 23,400.
Attention is now focused on the FOMC meeting minutes, due for release later tonight, which could influence market expectations regarding the U.S. interest rate outlook, a key driver of global investor sentiment.
After a prolonged streak of selling Indian equities, foreign institutional investors (FIIs) made net purchases worth Rs 4,786.56 crore in the previous session, while domestic institutional investors (DIIs) also bought shares netting Rs 3,072.19 crore on Tuesday.
Global Cues
On Wall Street, the S&P 500 closed at an all-time high, and both the Dow Jones and Nasdaq also saw gains. However, markets in the Asia Pacific region were mixed, with Hong Kong, Japan, and Australia experiencing declines, while South Korea and Mainland China posted gains.
