Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened lacklustre in trade on Tuesday. While BSE Sensex was near 81,360, Nifty50 was above 24,800. At 9:18 AM, BSE Sensex was trading at 81,360.60, up 5 points or 0.0058%. Nifty50 was at 24,835.90, down 0.20 points or 0.00080%.
This week, investors will be closely monitoring the policy meetings of major central banks, including the US Federal Reserve, Bank of England, and Bank of Japan.
“Interest-sensitive sectors including banking will remain in focus. Overall, we expect the market to continue its gradual uptick, however, volatility cannot be ruled out ahead of key events,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
The market’s near-term uptrend remains intact, with the possibility of some choppy movement or a minor dip in the next 1-2 sessions before surging higher. Immediate support is at 24,600 levels, while overhead resistance is around 25,000-25,100 levels, according to Nagaraj Shetti of HDFC Securities.
Global markets are showing signs of weakness, with S&P 500 futures, Hang Seng futures, Japan’s Topix, Australia’s S&P/ASX 200, and Euro Stoxx 50 futures all trading lower. The dollar held steady as traders awaited the upcoming policy decisions and the potentially pivotal U.S. employment report on Friday.
Oil prices slipped in early Asian trading on Tuesday, extending losses from the previous session due to concerns about Chinese demand and the market’s disregard for the risk of escalating conflict in the Middle East.
Foreign portfolio investors turned net sellers at Rs 2,474 crore on Monday, while domestic institutional investors bought shares worth Rs 5,665 crore.
Several companies, including IOC, Varun Beverages, GAIL, Macrotech, and Tata Consumer, are set to announce their first-quarter results on Tuesday.
Republished. Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/stock-market-today-bse-sensex-nifty50-july-30-2024-dalal-street-indian-equities-global-markets/articleshow/112124035.cms