Stock market today: BSE Sensex surges over 400 points to cross 75,000; Nifty50 above 22,750

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in trade on Friday. While BSE Sensex rose over 400 points to cross the 75,000 mark, Nifty50 was above 22,750. At 9:18 AM, BSE Sensex was trading at 75,037.46, up 426 points or 0.57%. Nifty50 was at 22,774.65, up 126 points or 0.56%.
The domestic markets experienced a modest rise on Thursday as the US Federal Reserve maintained interest rates.The index formed a bullish candle on a daily scale but traded within a narrow range throughout the day.
“On the higher side 22,780-22,800 will act as a strong hurdle for the index in the short term. As long as the index remains below 22,800, a short-term retracement towards 22,500-22,300 could be possible,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
The pre-market actions can be summarized as follows:
An ET report quoted Nagaraj Shetti of HDFC Securities as saying that the short-term trend of Nifty remains choppy with range-bound action, and any upside could face strong resistance around 22,800 levels. The immediate support is at 22,550 levels, and a breach below this support could trigger further weakness.
Asian markets are advancing, with shares in Australia and South Korea rising alongside Hong Kong futures. However, markets in Japan and mainland China are closed for holidays. US equities gained as investors weighed the Federal Reserve’s more dovish-than-expected interest rate guidance against mixed earnings and economic data.
The yen is headed for its best week in more than a year, helped by Tokyo’s suspected intervention to pull the Japanese currency away from 34-year lows. The dollar lost ground against most of its peers and is headed for its worst week in nearly two months.
Oil prices edged up on the prospect of OPEC+ continuing output cuts, but the crude benchmarks are headed for weekly losses due to U.S. economic uncertainty and limited crude supply disruptions caused by the Israel-Hamas war.
Vodafone Idea, Biocon, and ABFRL are in the F&O ban today. The rupee closed 3 paise lower at 83.46 against the US dollar on Thursday. The net long of FIIs increased from Rs 16,426 crore on Tuesday to Rs 25,615 crore on Thursday. Titan, Adani Green, Britannia, MRF, Tata Tech, and Godrej Properties, among others, will announce their fourth-quarter earnings today.

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