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Indian stock SENSEX surges in morning trading

US recession concerns kept investors away from risk assets, and Indian stocks, which fell 2.7% the day before, rose 859 points (1.1%) to $79,619 shortly after the start of trading on Tuesday.
BSE Sensex followed the rise of its Asian peers in response to the fact that statements from senior US central bank officials eased investors' anxiety. Nifty 50 rose 1.1 percent to surpass 24,300, mainly due to rising real estate, tech, and metals.
The BSE small and medium cap index rose 1 to 2%. Real estate, PSU banks, oil and gas, automobiles, IT, media, and metals rose 1-3%.
Traders' attention has turned to the RBI interest rate hike decision to be made on Thursday, and the market anticipates that the policy interest rate report, which is an indicator, will remain unchanged at 6.5% for 9 consecutive meetings.
While small and medium-sized stocks are also boosting the index, traders, such as Tata Power and Bajaj Electricals, are refraining from announcing financial results for the first quarter towards the end of the financial season.
Early rising stocks include Tech Mahindra (2.8%), Adani Enterprises (2.7%), and Tata Motors (2.7%).
However, investors are preparing to release China trade statistics and inflation rates for July on Wednesday and Friday.
It suggests that there is a possibility that Nifty 50 will continue its downward trend towards 23,800 and then 23,600 in the future. In the event of a backlash, resistance is likely to be around 24,400.
As of 15:00, it remained flat at 24,231.80 (+0.74%).
Bank Nifty may try to protect 49,500 if further adjustments are made, and resistance can be seen in the 50,700 to 51,000 zone.
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