Domestic stock market began in green on Tuesday with Sensex opening at 77507.32, up by 166.24 points and Nifty opening 41.55 points up at 23579.40.
From the nifty companies, 44 posted advances and 5 posted declines. Bank Nifty gained over 200 points to a new all time high.
In the initial hour, sectoral indices such as banks, Auto, Financial services, Media, Metal, and Pharma opened in green at National Stock Exchange. While sectors such as FMCG, IT and Realty opened in red.
The stocks of Ultratech Cement, HDFC Bank, and SBI opened as the top gainers.
Overall, market sentiment remains cautious with technical indicators pointing to potential upward moves if key resistance levels are breached while maintaining a supportive stance at lower levels.
As per the market experts considering the technical indications, the market may move higher if significant resistance levels are broken, but at lower levels, the market is still generally cautious.
On June 24, the BSE Sensex fell by 346.25 points, opening at 76,863.65, reflecting a 0.45 per cent decline. Meanwhile, the NSE Nifty 50 dropped by 99.75 points to 23,401.35, marking a 0.42 per cent decrease.
Overall, market sentiment remained cautious with technical indicators pointing to potential upward moves if key resistance levels are breached, while maintaining a supportive stance at lower levels.
Asia-Pacific markets displayed a range of results: the Shanghai Composite in China was slighty down while the Asia Dow was up 0.26 per cent in today’s opening. Japan’s Nikkei 225 was down 0.06 yesterday, and the Hang Seng in Hong Kong remains flat. WTI was up 0.13 per cent at USD 81.86 and Brent was up 0.18 per cent at USD 86.17 for crude oil prices. The US Dollar Index (DXY) fell 0.04 per cent to 105.47 when measured against a group of six important currencies.
Technical indications suggest that the market may move higher if significant resistance levels are broken, but at lower levels, the market is still generally cautious.