According to HDFC Securities’ Deepak Jasani, Nifty has support at lower levels while resistance exists between 24,567-24,694. (AI image)

Stock market today: BSE Sensex and Nifty50, Indian equity benchmark indices, opened in red on Wednesday. While BSE Sensex was near 89,050, Nifty was around 24,350. At 9:18 AM, BSE Sensex was trading at 80,058.92, down 310 points or 0.39%. Nifty50 was at 24,363.95, down 103 points or 0.42%.
According to HDFC Securities’ Deepak Jasani, Nifty has support at lower levels while resistance exists between 24,567-24,694.
“After 8% fall from all-time high, Nifty is witnessing some pull back ahead of Diwali, as investors get into festive mood. Overall, we expect the markets to remain range bound amid uncertainty with regard to US elections to be held next week. However we could continue to see sector and stock specific action as more companies announce their quarterly earnings,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
Major U.S. indices showed varying performance, with Nasdaq achieving a new peak and S&P 500 rising, while the Dow Jones experienced a decline. Markets in Asia registered slight increases as investors awaited upcoming U.S. economic events.
Crude oil prices stabilized after U.S. data revealed unexpected drops in stockpiles. The U.S. currency held steady near its highest level in three months ahead of significant economic data releases.
Trading limitations have been imposed on six stocks in the F&O segment: PNB, RBL Bank, Manappuram, LT Finance, IDFC First Bank, and Indiamart. Foreign Portfolio Investors offloaded shares worth Rs 548 crore, while Domestic Institutional Investors acquired shares valued at Rs 730 crore.
The net short position of Foreign Institutional Investors reduced to Rs 91,404 crore, down from the previous Rs 93,792 crore.
Republished. Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/stock-market-today-bse-sensex-nifty50-october-30-2024-diwali-dalal-street-indian-equities-global-markets/articleshow/114756569.cms