Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red in trade on Wednesday. While BSE Sensex went below 75,600, Nifty50 was near 22,800. At 9:17 AM, BSE Sensex was trading at 75,621.95, down 345 points or 0.45%. Nifty50 was at 22,830.90, down 114 points or 0.50%.
Indian markets closed lower on Tuesday, with bank, auto and FMCG sectors leading the decline. The indices have recorded negative closings in 9 out of the last 10 sessions, with Monday being the sole exception.
Commenting on the day’s trading, Rupak De, Senior Technical Analyst at LKP Securities noted the market’s volatile nature and lack of clear direction. “In the short term, Nifty might remain a ‘sell on rise’ as long as it stays below 23,150. Support is placed at 22,800, and a fall below this level might trigger further correction. Immediate resistance is placed at 23,000,” he said.
Despite the negative close, Om Mehra, Technical Analyst at SAMCO Securities anticipates a possible trend reversal, citing a dragonfly doji pattern on the daily chart. He notes that the index has established support in the 22,800-22,900 range.
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US stock markets showed positive movement, with the S&P 500 achieving a new record close in a shortened trading week. This occurred amid the conclusion of earnings season, upcoming Federal Reserve minutes, and ongoing geopolitical concerns.
Asian equities are set for early downward movement as concerns over expanded trade conflicts and global political uncertainties continue to affect investor sentiment.
Gold remained stable near its peak on Wednesday, as investors observed U.S. President Donald Trump’s trade policies, which have heightened concerns about international trade disputes, whilst awaiting the Federal Reserve’s January meeting minutes.
Foreign institutional investors (FIIs) showed positive activity in Indian equities, purchasing shares valued at Rs 3,072.19 crore on Tuesday, while domestic institutional investors (DIIs) acquired shares worth Rs 4,786.56 crore.
