Stock market today: India equity benchmark indices, BSE Sensex and Nifty50, rose in early trade today continuing the strong market rally momentum in the last week of the year. At 9:24 AM, BSE Sensex was trading at 71,593.86, up 257 points or 0.36%. Nifty50 was up over 70 points or 0.36% at 21,519.20.
Markets are expected to stay within a range with a positive bias and end the year on a positive note, according to Siddhartha Khemka, Head – Retail Research at Motilal Oswal.Despite a lack of significant triggers and the absence of major events due to the holiday season, investors can expect movement in specific stocks and a series of new listings, he was quoted as saying by ET.
Shares in Asia saw gains following the rise in US stocks, with the S&P 500 nearing its record high. This has led investors to speculate that the US Federal Reserve may cut interest rates as early as March. Equities in Australia and Japan also advanced, with Australia’s S&P/ASX 200 index reaching its highest intraday level since April 2022, coming close to a record high.US stocks continued their rally on Tuesday, starting the final week of 2023 with expectations of interest rate cuts by the US Federal Reserve in the near future. All three major US stock indexes rose in light trading, with the S&P 500 reaching its highest intraday level since January 2022.
In early Asian trade on Wednesday, oil prices fell, partially erasing the strong gains from the previous session. This was due to major shipping firms returning to the Red Sea despite ongoing attacks and escalating tensions in the Middle East.
Markets are expected to stay within a range with a positive bias and end the year on a positive note, according to Siddhartha Khemka, Head – Retail Research at Motilal Oswal.Despite a lack of significant triggers and the absence of major events due to the holiday season, investors can expect movement in specific stocks and a series of new listings, he was quoted as saying by ET.
Shares in Asia saw gains following the rise in US stocks, with the S&P 500 nearing its record high. This has led investors to speculate that the US Federal Reserve may cut interest rates as early as March. Equities in Australia and Japan also advanced, with Australia’s S&P/ASX 200 index reaching its highest intraday level since April 2022, coming close to a record high.US stocks continued their rally on Tuesday, starting the final week of 2023 with expectations of interest rate cuts by the US Federal Reserve in the near future. All three major US stock indexes rose in light trading, with the S&P 500 reaching its highest intraday level since January 2022.
In early Asian trade on Wednesday, oil prices fell, partially erasing the strong gains from the previous session. This was due to major shipping firms returning to the Red Sea despite ongoing attacks and escalating tensions in the Middle East.
Foreign portfolio investors were net sellers at Rs 95 crore on Tuesday, while DIIs bought shares worth Rs 167 crore.