Sensex Today | Share Market Live Updates : Benchmarks at record highs in pre-open; Sensex at 74,240, Nifty above 22,500

Sensex Today Live : Indian benchmark indices climbed to fresh all-time highs during pre-open trading on Thursday, despite the Nifty 50 opening lower than Thursday’s close.

Sensex was up 156.75 points, or 0.21%, at 74,242.74, while the Nifty 50 was up 31.25 points, or 0.14%, at 22,505.30 during pre-open.

Sensex Today Live : Bank Nifty outperformed the broader markets and gained momentum from the first hour of trade after crossing 47,800 levels.

The hourly support average has moved higher to 47,600 levels while on the higher side 48,600 will be a resistance from current levels.

RSI is trading above the average line near the higher end of the range which indicates the positive momentum to continue for the next few days.

Bank Nifty highest call OI is at 48,000 levels while on the downside put OI is at 47,500 levels for the weekly expiry.

Sensex Today Live : Nifty-50 has witnessed a sharp reversal from the lower support range of 22,200 levels making a higher support zone for the up move.

The highest put OI of 22,200 was protected and we witnessed a swift recovery led by private banks with positive momentum.

The intra hour retracement was healthy testing the lower range and bounced with current momentum to test 22,700 levels over the next few days.

Highest call OI has moved to 22,600 strike while on the downside the highest put OI is at 22,300 for the weekly expiry.

Sensex Today Live : Foreign investors seeking to enhance their returns in India’s thriving stock market are increasingly investing in small- and mid-cap firms that are outperforming their larger counterparts.

The count of companies with overseas shareholding exceeding 10% escalated to 275 on the BSE 500 Index at the end of December, up from 257 the previous year, as per a Bloomberg analysis of foreign institutional ownership data. This surge was primarily driven by smaller firms.

The quest to identify the upcoming victors in the world’s most rapidly expanding major economy is leading international funds to delve deeper into the market-cap hierarchy. This has contributed to the enthusiasm that has powered a continuous rally in this sector. A measure of small- and mid-cap stocks has yielded a 60% return over the past year, in contrast to a 23% rise in India’s primary S&P BSE Sensex Index. (Read the full story here.)

Sensex Today Live : The Indian stock market indices, Sensex and Nifty 50, are anticipated to commence trading on a positive note on Thursday, influenced by optimistic signals from international markets.

On Wednesday, the local equity indices staged a strong comeback in the final trading hour, each closing over half a percent higher. This marked a milestone as the Sensex crossed the 74,000 threshold for the first time.

The Sensex climbed 408.86 points to conclude at 74,085.99, while the Nifty 50 ended 117.75 points, or 0.53%, higher at 22,474.05.

The Nifty 50 chart displayed a long bull candle with an extended lower shadow. “This pattern technically signifies a bullish rising three method pattern, which is a trend continuation pattern. We can anticipate further upward movement in the upcoming sessions, with the next upside levels to monitor around 22,800 and immediate support at 22,300 – 22,250 levels,” stated Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. (Read the full story here.)

Sensex Today Live : The domestic stock indices, Sensex and Nifty 50, are projected to continue their upward trajectory on Thursday, buoyed by encouraging signals from global markets.

Asian markets experienced a surge, and the US stock market ended on a positive note after remarks from Jerome Powell, the US Federal Reserve Chairman, bolstered the anticipation of a reduction in the central bank’s key interest rate this year.

On the previous day, the Indian stock market indices each saw an increase of over half a percent, with the benchmark Sensex exceeding the esteemed 74,000 level for the first time.

Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said, “Domestic equities made a comeback after a minor pause and continued to make new highs. Sectorial rotation was seen in the market with private banks gaining momentum and supporting the index. We expect largecaps to drive the market in the near term while midcap and smallcap could remain under pressure”. (Read the full story here.)

Sensex Today Live : With global cues firming up on the back of Federal Reserve Chairman Jerome Powell’s commentary on rate cuts this year, the Gift Nifty was trading ahead of Nifty 50’s Wednesday close.

At 7:50 am on Thursday, the Gift Nifty was at 22,650, nearly 200 points ahead of Nifty 50’s Wednesday close of 22,474,05. This comes in the backdrop of both the benchmark indices in India hitting new all-time highs in Wednesday’s trading session.

Wall Street followed world shares to a higher close on Wednesday and the benchmark U.S. Treasury yield dipped to a one-month low after Federal Reserve Chair Jerome Powell reassured investors that while inflation is not quite tamed rate cuts can be expected this year.

All three major U.S. stock indexes closed well below session highs, marking a partial rebound from Tuesday’s steep sell-off. The tech-heavy Nasdaq enjoyed the most robust gain.

Powell told the House of Representatives Financial Services Committee that “if the economy evolves broadly as expected,” the central bank can be expected to cut its policy rate this year. He added that continued progress against inflation “was not assured.”

European stocks hit a record high as investors weighed Powell’s commentary the day before the European Central Bank is expected to issue its policy decision.

The Dow Jones Industrial Average rose 75.86 points, or 0.2%, to 38,661.05, the S&P 500 gained 26.11 points, or 0.51%, to 5,104.76 and the Nasdaq Composite added 91.96 points, or 0.58%, to 16,031.54.

The pan-European STOXX 600 index rose 0.39% and MSCI’s gauge of stocks across the globe gained 0.59%.

Emerging market stocks rose 0.67%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.78% higher, while Japan’s Nikkei lost 0.02%.

Bitcoin, which touched and then backed away from an all-time high on Tuesday, resumed its climb.

The cryptocurrency was last up 5.6% at $66,884.