Stock Market today: Sensex-Nifty begin with gains after the Ram Navami holiday
Stock Market today: The stock market opened Thursday's trading session with a notable uptrend following the Ram Navami holiday. The Sensex surged by 291.27 points to start at 73,234.95, while the Nifty climbed by 102.75 points, opening at 22,250.65.
Among the Nifty companies, 40 showed advances while 10 experienced declines. Significant gainers included BPCL, Power Grid, HDFC Life, Hero MotoCorp, and Adani, while HCL Tech, NTPC, Nestle India, Apollo Hospital, and Axis Bank were among the top losers.
Technical analysis indicates a weakened trend as the index breached the 21-day Exponential Moving Average (EMA). However, a rebound is anticipated from support levels near 22,000, supported by oversold conditions on hourly charts.
Option Interest (OI) data reveals significant OI concentrations at 22,400 and 22,500 strike prices on the call side, and at 22,000 on the put side.
Across Asia, equities displayed mixed performance, with Japanese stocks declining while Australian and South Korean equities surged. Futures trading indicated early losses in Hong Kong but gains in China.
Investors closely monitored earnings reports from tech giants amidst global market fluctuations.
Despite market uncertainties, the Indian stock market began the trading day on a positive note, reflecting investor optimism amidst global economic challenges and volatility.
As market dynamics continue to evolve, investors remain watchful, balancing optimism with cautious apprehension in navigating the financial landscape.
- With inputs from agencies
