Stock market today: BSE Sensex tanks over 150 points; Nifty50 near 23,900 – Times of India

Markets remain under pressure following Fed’s strict commentary. Support exists at 23,850, with resistance at 24,200, according to Rupak De of LKP Securities. (AI image)

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, plunged in trade for the fifth consecutive day on Friday. While BSE Sensex was just above 79,000, Nifty50 was near 23,900. At 9:19 AM, BSE Sensex was trading at 79,049.92, down 168 points or 0.21%. Nifty50 was at 23,907.15, down 45 points or 0.19%.
On Thursday, Indian markets experienced a broad-based decline, following global market turbulence triggered by the US Federal Reserve’s hawkish position on interest rates.
Ajit Mishra – SVP, Research, Religare Broking said: “Despite the weakness, oversold conditions and resilience in select pockets present buying opportunities. Traders are advised to align their positions carefully, with an emphasis on prudent stock selection.”
Markets remain under pressure following Fed’s strict commentary. Support exists at 23,850, with resistance at 24,200, according to Rupak De of LKP Securities.
US markets remained stable on Thursday after the Federal Reserve projected fewer rate cuts.
Asian equities remained constrained in early Friday trading, as the US Federal Reserve’s strict stance continued to affect American equities and bonds whilst strengthening the dollar.
Gold prices were heading towards a weekly decline on Friday following the Federal Reserve’s decision on monetary policy adjustments indicated slower rate reductions, whilst attention turned to the U.S. Personal Consumption Expenditure data scheduled later.
Foreign portfolio investors became net sellers at Rs 4,224 crore on Thursday. Domestic institutional investors disposed of shares worth Rs 3943 crore.
FIIs’ net short position increased from Rs 1.01 lakh crore on Wednesday to Rs 1.25 lakh crore on Thursday.