Stock Market
Stock market today: BSE Sensex crosses 75,000 level for the first time as bulls charge; Nifty50 tops 22,700
Stock market today: BSE Sensex and Nifty50, the Indian stock markets, reached lifetime highs on Tuesday with the 30-share index crossing the 75,000 level and Nifty50 moving above 22,700. S&P BSE Sensex crossed the 75,000 milestone, hitting a peak of 75,124, while the Nifty50 also achieved a fresh high of 22,765.
At 11:04 AM, BSE Sensex was trading at 75,072.89, up 330 points or 0.44%. Nifty50 was at 22,751.10, up 85 points or 0.37%. The Nifty saw more stocks in the green with 35 trading positively and 15 in the red. Key gainers included Hero MotoCorp, Infosys, Tata Motors, Bajaj Finance, and Power Grid, while top losers were Divi’s Laboratories, ONGC, Eicher Motors, Tata Consumer Products, and Reliance Industries.
Among stocks in the spotlight, Infosys, Axis Bank, and Gland Pharma drew attention. Infosys saw a 2% surge after Bank of America upgraded its rating. Axis Bank remained steady after reports of Bain Capital selling a stake. On the other hand, Gland Pharma faced a 5% dip due to stake sales by Nicomac Machinery and RP Advisory Services.
Also Read | Mini-Goldilocks moment! Why Motilal Oswal thinks India is big, bold and blazing
Sameet Chavan, Head of Research, Technical, and Derivative at Angel One, remarked that the trading week has kicked off on a positive note for the bulls, with the benchmark index opening higher. He noted that from a technical perspective, the recent robust performance, which has surpassed the March swing high, has fulfilled a bullish ‘Saucer’ continuation pattern.
Chavan pointed out a ‘Saucer’ continuation pattern and a ‘Rising Channel’ pattern indicating a potential resistance zone between 22,750 – 22,800. He has advised caution on aggressive long positions and suggested looking at profit-taking strategies, with immediate support levels at 22,500 – 22,450.
Also Read | Biggest Wealth Creators! Small-cap and mid-cap funds among top performers in last one year; check list here
In global markets, US indices closed lower, while most major Asian markets were trading positively. Crude oil prices showed a slight increase, with US WTI oil contracts at $86.640 and Brent oil futures near $90.660. In terms of foreign investments, domestic institutional investors were net buyers of Rs 3,470.54 crore, while foreign institutional investors sold Indian equities worth Rs 684.68 crore on Monday.
At 11:04 AM, BSE Sensex was trading at 75,072.89, up 330 points or 0.44%. Nifty50 was at 22,751.10, up 85 points or 0.37%. The Nifty saw more stocks in the green with 35 trading positively and 15 in the red. Key gainers included Hero MotoCorp, Infosys, Tata Motors, Bajaj Finance, and Power Grid, while top losers were Divi’s Laboratories, ONGC, Eicher Motors, Tata Consumer Products, and Reliance Industries.
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Among stocks in the spotlight, Infosys, Axis Bank, and Gland Pharma drew attention. Infosys saw a 2% surge after Bank of America upgraded its rating. Axis Bank remained steady after reports of Bain Capital selling a stake. On the other hand, Gland Pharma faced a 5% dip due to stake sales by Nicomac Machinery and RP Advisory Services.
Also Read | Mini-Goldilocks moment! Why Motilal Oswal thinks India is big, bold and blazing
Sameet Chavan, Head of Research, Technical, and Derivative at Angel One, remarked that the trading week has kicked off on a positive note for the bulls, with the benchmark index opening higher. He noted that from a technical perspective, the recent robust performance, which has surpassed the March swing high, has fulfilled a bullish ‘Saucer’ continuation pattern.
Chavan pointed out a ‘Saucer’ continuation pattern and a ‘Rising Channel’ pattern indicating a potential resistance zone between 22,750 – 22,800. He has advised caution on aggressive long positions and suggested looking at profit-taking strategies, with immediate support levels at 22,500 – 22,450.
Also Read | Biggest Wealth Creators! Small-cap and mid-cap funds among top performers in last one year; check list here
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