Stock Market Update: BSE Sensex Opens on Volatile Note; Nifty50 Holds Steady Above 25,250
Indian equity benchmark indices, the BSE Sensex and Nifty50, opened in the green on Tuesday but quickly turned negative. By 9:24 AM, the BSE Sensex was trading at 82,514.01, down 46 points or 0.056%, while the Nifty50 stood at 25,266.40, down 12 points or 0.049%.
The Indian markets began September on a positive note, supported by favorable global cues and upbeat investor sentiment. However, the early gains were short-lived.
Osho Krishan, Senior Analyst – Technical & Derivatives at Angel One, advised caution: “Going forward, it’s important to take a pragmatic approach and not get swept away by Nifty’s recent winning streak. Stock selection should be done carefully, and positions should be kept light. It’s also crucial to monitor global markets closely, as they have heavily influenced the initial tone of our market.”
Despite facing resistance near the 25,350 level (1.382% Fibonacci extension), Nifty’s short-term trend remains intact. A decisive move above 25,400 could open the path to the next target of 25,800, with immediate support positioned at 25,100, according to Nagaraj Shetti of HDFC Securities.
Global markets reflected mixed trends, with S&P 500 futures steady, Hang Seng futures edging up slightly, and Euro Stoxx 50 futures dipping marginally. Meanwhile, both the Japanese yen and the offshore yuan remained relatively stable against the dollar.
Balrampur Chini Mills and Hindustan Copper are in the F&O ban period today, having exceeded 95% of the market-wide position limit.
Foreign portfolio investors (FPIs) were net buyers on Monday, purchasing shares worth Rs 1,735 crore, while domestic institutional investors (DIIs) sold shares worth Rs 356 crore. The net long position of FPIs declined from Rs 2.43 lakh crore on Friday to Rs 2.33 lakh crore by Monday.
