Today's stock market: On Monday, the key Indian equity indexes, the BSE Sensex and Nifty50, began trading higher. Nifty50 was over 24,000, but the BSE Sensex was above 79,000. The BSE Sensex was up 39 points, or 0.049%, at 79,071.24 at 9:16 AM. The Nifty50 was up 24 points, or 0.10%, at 24,034.65.
For the third week in a row, the equity markets rose last week, with the Nifty hitting all-time highs. Profit booking did, however, put some pressure on the index at higher levels.
"With stock-specific movement, we anticipate that this bullish trend will continue at a steady pace. But this week's supply of economic data points would maintain some market volatility. As OEMs report their monthly vehicle sales figures, the automotive sector is anticipated to be in the spotlight, according to Siddhartha Khemka, Head of Retail Research at Motilal Oswal.
Nifty is now encountering resistance at the 24000–24100 levels, and any decline from here is probably a buying opportunity, with immediate support at the 23800 levels, according to Nagaraj Shetti of HDFC Securities.
U.S. equities ended the day down on Friday, with investors assessing political unpredictability in the wake of the U.S. presidential debate and analyzing inflation data that was in line with expectations. Nike released a bleak prognosis and had its worst one-day decline in more than 20 years.
The outlook for US interest rates caused Asian equities to remain muted on Monday, but the euro gained ground after the far-right in France's unexpected snap election received a lower percentage of the vote than some surveys had predicted.
India Cements and Indus Tower have exceeded the 95% market-wide position restriction, so they are subject to a ban under the F&O category.
On Friday, foreign portfolio investors sold their shares for a net amount of Rs 23 crore, while DIIs purchased shares valued at Rs 6,658 crore. In response to recent foreign money inflows, the rupee strengthened 11 paisas to end the day at 83.34 versus the US dollar on Friday. From Rs 3.19 lakh crore on Thursday to Rs 3.46 lakh crore on Friday, the net long of FIIs grew.
