Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, hit fresh lifetime highs in opening trade on Thursday. While BSE Sensex crossed the 80,300 mark, Nifty50 went above 24,350. At 9:18 AM, BSE Sensex was trading at 80,199.12, up 212 points or 0.27%. Nifty50 was at 24,351.55, up 65 points or 0.27%.
On Wednesday, domestic markets continued their streak of reaching new highs, supported by strong global trends. The Nifty crossed the 24,300 mark, while the Sensex surpassed the historic 80,000 level.
“We expect this ongoing momentum to continue in the near term. Indian Equities today would react to the release of US Fed meeting minutes and US, Europe, and Asia -Service and Composite PMI data,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Nagaraj Shetti of HDFC Securities suggests that a decisive move above 24,400 levels could open the next upside target of 24,900 levels in the coming week, with immediate support placed at 24,110 levels.
Global markets showed mixed trends, with S&P 500 futures little changed, Hang Seng futures rising 0.9%, Nikkei 225 futures (OSE) rising 0.5%, Japan’s Topix rising 0.6%, Australia’s S&P/ASX 200 rising 1.1%, and Euro Stoxx 50 futures little changed.
The dollar was on the defensive after soft U.S. economic data pointed to slowing growth, while oil prices fell due to weaker-than-expected U.S. employment and business activity data. India Cements and Hindustan Copper are in the F&O ban period today.
Foreign portfolio investors turned net buyers at Rs 5,483 crore on Wednesday, while DIIs bought shares worth Rs 924 crore. The net long of FIIs increased from Rs 3.46 lakh crore on Tuesday to Rs 3.78 lakh crore on Wednesday.
Republished. Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/stock-market-today-bse-sensex-nifty50-july-04-2024-dalal-street-indian-equities-global-markets/articleshow/111473453.cms