Today’s stock market: the Nifty50 is over 22,400, while the BSE Sensex is back in the green at over 74,000

Today’s stock market: On Thursday, the major Indian equity indexes, the BSE Sensex and Nifty50, returned to positive territory after a red opening. Early trading saw a decrease in the BSE Sensex and Nifty50, with the 30-share index losing 200 points.

The BSE Sensex was up 149 points, or 0.20%, at 10:34 AM, trading at around 74,002.19. Nifty50 was up 38 points, or 0.17%, at 22,440.10.
Wednesday’s gains by the Indian stock markets continued their winning run for the fourth straight session, helped by the upbeat mood throughout the world.

The market is still in a positive trend, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Negative variables like rising bond rates in the US—the 10-year yield is still over 4.6%—and geopolitical concerns have little effect on this trend.
Market sentiment is unlikely to be affected by reports that Israel is targeting locations related to Hezbollah until there is a noticeable increase in hostilities. “Kotak Bank’s regulatory limitations will have an impact on the shares. There won’t be any significant corrections to the market since the VIX is at low levels. Consolidation is probably in store in the near future,” Vijayakumar was cited by ET.

Deven Mehata, Research Analyst at Choice Broking, states that 22,300, 22,250, and 22,200 are the Nifty index’s support levels. Upward, 22,450 is anticipated to be the first resistance level, followed by 22,500 and 22,600.
The S&P 500 closed higher in tumultuous trading, while Asian equities markets saw a fall after Meta Platforms Inc. released poor earnings. Global markets offered a mixed picture. Fears about a possible slowdown in the US economy and the possibility of postponed interest rate reduction contributed to a small decrease in oil prices.
As the Bank of Japan started its two-day rate-setting meeting, the Japanese yen continued to weaken at 155 per dollar, making markets wary of possible intervention by Tokyo.

For the third day in a row, foreign portfolio investors (FPIs) sold shares worth Rs 2,511 crore, continuing their trend of being net sellers. DIIs, or domestic institutional investors, purchased shares valued at Rs 3,809 crore. Strong local equity markets helped to boost the rupee, which ended the day slightly higher at 83.30 versus the US dollar, although the growing value of the US dollar countered it.
On Wednesday, a number of well-known businesses, including LTTS, Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, and Nestle, will release their fourth-quarter profits, offering further information about how different industries performed.