Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Tuesday but quickly slipped to red. At 9:24 AM, BSE Sensex as trading at 82,514.01, down 46 points or 0.056%. Nifty50 was at 25,266.40, down 12 points or 0.049%
The Indian equity markets commenced September positively, drawing strength from favorable global cues and overall positive sentiment.
“Going forward, it is advisable to take a pragmatic approach and refrain from getting carried away by the Nifty’s winning streak. Maintaining exclusivity while stock selection and staying light on positions is recommended. Furthermore, closely monitoring the global markets, which have significantly impacted our market’s initial tone, is essential,” said Osho Krishan, Senior Analyst – Technical & Derivatives, Angel One.
The short-term trend of Nifty remains intact, despite the index facing resistance around 25,350 levels (1.382% Fibonacci extension). A decisive move above 25,400 could open the next upside target of 25,800 levels, with immediate support placed at 25,100, according to Nagaraj Shetti of HDFC Securities.
Global markets showed mixed trends, with S&P 500 futures remaining stable, Hang Seng futures rising slightly, and Euro Stoxx 50 futures falling marginally. The Japanese yen and the offshore yuan were little changed against the dollar.
Balrampur Chini Mills and Hindustan Copper are in the F&O ban period today, as they have crossed 95% of the market-wide position limit.
Foreign portfolio investors turned net buyers, purchasing shares worth Rs 1,735 crore on Monday, while domestic institutional investors sold shares worth Rs 356 crore.
The net long position of FIIs reduced from Rs 2.43 lakh crore on Friday to Rs 2.33 lakh crore on Monday.
Republished. Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/stock-market-today-bse-sensex-nifty50-september-03-2024-dalal-street-indian-equities-global-markets/articleshow/113009948.cms