Stock market today: BSE Sensex opens flat, up over 80 points; Nifty50 above 22,250


stock market today, bse sensex and nifty50, Indian Equity Benchmark IndexA slow start to business was seen on Wednesday. While BSE Sensex went up by more than 80 points. nifty 50 Was above 22,250. At 9:21 am, BSE Sensex was trading at 73,190.34, up 86 points or 0.12%. Nifty50 was up 39 points or 0.18% at 22,257.25.
Indian markets continue to recover supported by softening CPI inflation The level is at less than 5% level and there are positive signals from Asian counterparts. According to Vinod Nair, head of research at Geojit Financial Services, “Given the ongoing uncertainty around low turnout, volatility and range-bound trading are likely to continue in the near term.” ,
Technical analysis by Tejas Shah of JM Financial and BlinkX shows that the immediate resistance zone for Nifty lies at 22,200-250 levels, with the next resistance at 22,500. Analysts expect Nifty to remain volatile in the range of 21,800 – 22,300 in the near term.
Asian markets are trading higher following a technology-driven rally in US markets, as investors await key inflation data on Wednesday for information on future actions from the Federal Reserve. Hang Seng futures were little changed, while Japan's Topix and Australia's S&P/ASX 200 rose 0.8% and 0.7%, respectively.
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In the US, the Nasdaq closed at a record high on Tuesday, while the S&P 500 and the Dow also advanced as Federal Reserve Chairman Jerome Powell reassured investors. The Dow Jones Industrial Average rose 0.32%, the S&P 500 rose 0.48% and the Nasdaq Composite added 0.75%.
The US dollar traded near a one-month low against the euro due to lower Treasury yields as traders awaited a key US inflation report. The U.S. dollar index was flat at 105.04, after falling to a 1 1/2-week low of 104.95 on Tuesday.
Oil prices rose in early trading on Wednesday, driven by the threat of major wildfires in Canada's oil sands and expectations of a drawdown in U.S. crude oil and gasoline stockpiles. Brent crude futures were up 34 cents, or 0.4%, at $82.71 a barrel, while U.S. West Texas Intermediate crude futures (WTI) rose 38 cents, or 0.5%, at $78.39 a barrel.
Nine stocks are under F&O ban today, including Vodafone Idea, Canara Bank, Zee, Balrampur Chini Mills, GMR Infra, SAIL, Hindustan Copper, PEL and PNB.
Foreign portfolio investors (FPIs) were net sellers of Rs 4,065 crore on Tuesday, while domestic institutional investors (DIIs) bought shares worth Rs 3,527 crore. The rupee closed at 83.51 against the US dollar in sluggish trade on Tuesday.
Several companies, including PFC, Mannkind Pharma, RVNL, Dixon and Titagarh, will announce their fourth quarter earnings on Monday.

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