Stock Market Today: The strong global cues on the weekly derivatives expiry helped the Indian markets end a two-day losing streak and open their Thursday session on a bullish note. At today’s market opening, the main indices, including the Sensex, were up more than 300 points, and the Nifty was above the 18300 mark.
Frontline indices witnessed a deep cut
On Wednesday, there was a significant drop in the frontline indices, which may be ascribed to concerns that seized Wall Street due to a rapid increase in the number of instances of cancer in China, the US, and other countries.
Sensex and NSE Nifty50
The major benchmark indices, including the BSE Sensex, fell more than 600 points yesterday, and the Nifty50 closed below 18200 levels for the first time since November 10, 2022. This decline was primarily caused by heavy profit-taking in the metal, auto, FMCG, bank, and financial sectors.
Dollar regained stability
Global stock markets increased on Wednesday as US consumer sentiment increased in December and the dollar stabilised following the Bank of Japan’s surprising decision to relax its control over government bond yields, which shocked the markets.
Stock Market Today: Nifty support, resistance levels to watch
On daily charts, the Nifty formed a bearish engulfing pattern by engulfing the previous three candles. The Nifty may encounter another support cluster between 17969 and 18133, while resistance may come from the band between 18340 and 18385. Since the most recent high of 18887, Nifty has failed to increase for three straight sessions. -Deepak Jasani, HDFC Securities’ Head of Retail Research
Also Read: Mahindra Thar owner faces a 6-month prison sentence for altering his SUV
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
