Stock Market Updates: Sensex Opens 240 Points Lower, Nifty At 23,150; Nifty IT Drops 2% – News18
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Indian benchmark equity indices, the BSE Sensex and Nifty50, opened on a subdued note on Friday, reflecting weak global cues.
Stock Market Updates
Sensex Today: Indian benchmark equity indices, the BSE Sensex and Nifty50, opened on a subdued note on Friday, reflecting weak global cues.
At the opening bell, the BSE Sensex was down by 242.29 points, or 0.32%, at 76,105.77, while the Nifty50 stood at 23,146, slipping by 44.60 points, or 0.19%.
According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, the market has successfully surpassed the 50-day Simple Moving Average (SMA) and cleared the key resistance zone at 23,000/75,700, which is a positive development. Additionally, the formation of a bullish candle on the daily charts supports the view of a continued uptrend from current levels.
“We remain bullish on the market overall, but for day traders, the ideal strategy would be to buy on dips and sell on rallies. In the near term, the support zones to watch are 23,100/76,000 and 23,000/75,700 (the 50-day SMA), while resistance levels are seen at 23,300/76,500 and 23,400/76,800. However, if the market dips below 23,000/75,700, sentiment could turn negative, and traders might consider exiting their long positions,” he added.
Global Cues
In Japan, the Topix index hit an eight-month high on Friday, boosted by gains in the financial sector following stronger-than-expected inflation data, which heightened expectations for potential interest rate hikes by the Bank of Japan.
The broader Topix index reached a peak of 2,817.58, its highest level since July 24, before closing the morning session at 2,814.15, up 0.65% from the previous session. The index is set to extend its gains for the seventh consecutive session.
Meanwhile, South Korean shares saw a slight dip on Friday, as losses in battery and steel stocks countered gains in chip stocks. Despite the losses, the market is still on track for its third consecutive week of gains. As of 0132 GMT, the benchmark KOSPI was down by 3.03 points, or 0.11%, at 2,634.07, following a weaker performance on Wall Street.
U.S. stocks ended slightly lower on Thursday, after a volatile session in which investors weighed the latest economic data and the Federal Reserve’s policy statement amid concerns over trade tariffs. Selling pressure has increased recently, with economic indicators suggesting slowing growth and weakening consumer sentiment, exacerbated by the Trump administration’s reciprocal trade tariffs.
