Stock market today: BSE Sensex drops over 300 points, Nifty50 below 22,400 level

Apr3,2024



stock market today, bse sensex And Nifty50, the benchmark equity index for Indian stock markets, opened in the red on Wednesday. BSE Sensex fell by more than 300 nifty 50 Fell below 22,400 level. At 9:20 am, BSE Sensex was trading at 73,577.41, down 326 points or 0.44%. Nifty50 was down 85 points or 0.38% at 22,368.40.
equity markets The day ended flat on Tuesday, retreating from recent record highs, with fears of volatility in global markets in the coming days. Siddharth Khemka, head of retail research at Motilal Oswal, said that after strong fluctuations in the previous session, he expects a period of consolidation in view of various upcoming key events.
Technical outlook suggests that a break above 22500-22600 levels could lead to further upside for Nifty.
In the US, shares fell as concerns grew about the US Federal Reserve delaying interest rate cuts and Tesla shares fell due to low quarterly deliveries. Asian markets also fell on speculation that major central banks could raise interest rates higher.
Brent futures rose 0.22% to $89.12 a barrel as a sharp drawdown in US crude stockpiles and rising geopolitical tensions lifted oil prices. The dollar remained strong, keeping the yen in check, although Tokyo's threats of intervention limited its losses.
Hindustan Copper was one of the stocks in the F&O ban period triggered by breach of market-wide position limits. Foreign portfolio investors remained net sellers for the second consecutive day, while domestic institutional investors bought shares worth Rs 1,953 crore.
The rupee closed marginally lower at 83.42 against the US dollar, influenced by a stronger dollar and higher crude oil prices. Additionally, FIIs increased their net short positions to Rs 15,427 crore from Rs 21,587 crore. The market outlook remains cautious amid global economic uncertainties and upcoming data releases.



Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *