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Stock market today: BSE Sensex opens in red; Nifty50 near 24,650

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Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Wednesday. While BSE Sensex was above 80,700, Nifty50 was above 24,650. At 9:25 AM, BSE Sensex was trading at 80,723.22, down 80 points or 0.099%. Nifty50 was at 24,686.85, down 12 points or 0.049%.
On Tuesday, equity markets continued their upward trend and closed with gains.Analysts noted that after consolidating at higher levels in recent days, the Nifty experienced a recovery amid a rebound in global markets. They expect this positive momentum to persist in the near future.
Nagaraj Shetti of HDFC Securities said, “The underlying trend of Nifty remains positive. A sustainable move above the hurdle of 24700 levels could open the next upside target of 25,000-25,100 in the near term. Immediate support is at 24,500 levels.”
Oil prices dipped on Wednesday due to estimates indicating growing U.S. crude inventories and expectations of easing tensions in the Middle East following a tour of the region by mediators. Brent crude futures fell 9 cents to $77.11 a barrel, while U.S. West Texas Intermediate crude lost 10 cents at $73.07 per barrel.
Stocks in F&O ban today include India Cements, Balrampur Chini Mills, GNFC, Nalco, RBL Bank, Sun TV, Aarti Industries, ABFRL, Manappuram, LIC Housing Finance, Hindustan Copper, Granules, SAIL, Bandhan Bank, PEL, and Birla Soft. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
Foreign portfolio investors turned net sellers at Rs 1,458 crore on Tuesday, while DIIs bought shares worth Rs 2252 crore. The net short position of FIIs shifted from Rs 350 crore on Monday to a net long position of Rs 26,234 crore on Tuesday.



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