Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Friday. While BSE Sensex was above 77,800, Nifty50 was above 23,550. At 9:17 AM, BSE Sensex was trading at 77,805.08, up 185 points or 0.24%. Nifty50 was at 23,567.95, up 41 points or 0.18%.
The Indian stock market followed its Asian counterparts downward on Thursday, influenced by US bond sell-offs affecting investor confidence. Analysts indicate that if Nifty falls below 23,500, it would confirm a sell-on-rise approach with potential further decline. However, maintaining this support level could result in market stabilisation.
S&P 500 futures declined for two consecutive days following US market closure on Thursday for former President Jimmy Carter’s memorial.
Asian markets showed weakness alongside US futures before the release of employment statistics, which will influence Federal Reserve’s interest rate decisions. Markets in Australia and Japan recorded declines, whilst South Korean shares remained relatively stable.
The dollar strengthened, continuing its longest weekly growth streak in over a year. Gold remained steady, heading towards its best weekly performance since mid-November.
FPIs sold Rs 7,170 crore while DIIs purchased Rs 7,369 crore on Thursday. FII net short position increased to Rs 2.67 lakh crore.
