Market for stocks today: On Friday, the key Indian equity indices, the BSE Sensex and Nifty50, began somewhat lower than expected. Nifty50 was above 24,800, and the BSE Sensex was above 81,000. The BSE Sensex was down 24 points, or 0.029%, at 81,029.58 at 9:16 AM. The Nifty50 was down 3 points, or 0.010%, at 24,809.00.
The Nifty has to remain above 24,700, according to Motilal Oswal's Chandan Taparia, in order to continue moving upward towards 25,000 and 25,100. The Nifty has support levels around 24,700 and 24,550.
"The trajectory of the global indexes is being keenly watched by markets, and the recent slowdown in US markets before the Jackson Hole Symposium is causing some concern locally as well. Technically speaking, the Nifty is consolidating after failing to breach the resistance at 24,850. Ajit Mishra, SVP, Research, Religare Broking, stated, "Despite this, we maintain a bullish outlook on the markets and advise focusing on selective stock picking."
India Cements, Balrampur Chini Mills, GNFC, Nalco, Birla Soft, Sun TV, Aarti Industries, ABFRL, PEL, LIC Housing Finance, Hindustan Copper, Granules, Chambal Fertilizers, and RBL Bank are among the equities that are now prohibited from trading. The position limit for these securities on the market has been exceeded by 95%.
On Wednesday, domestic institutional investors purchased shares worth Rs 2,972 crore, while foreign portfolio investors were net buyers, buying shares worth Rs 1,372 crore.
FIIs' net long position rose to Rs 24,869 crore on Thursday from Rs 17,768 crore on Wednesday.
The F&O ban is now in effect for a number of equities, including Birla Soft, India Cements, Balrampur Chini Mills, GNFC, Nalco, Sun TV, and Aarti Industries.
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