Stock Market Today: Nifty Nears 25,000 At Open, Sensex Jumps 256 Pts; Is The Broader Decline Over?

Stock Market Today: The Nifty and Sensex opened on a firm note on Wednesday and held ground in the first fifteen minutes of the stock market opening today. Nifty and Sensex's flat opening follows weak sentiment in the US stock market. Asian stock markets are showcasing mixed signals.

Nifty opened 69 points higher at 24890.40 points, whereas BSE Sensex surged around 256 points to 81,594 points. Amid the ongoing Q1 results announcement and geopolitical development, investors are expecting some recovery in the benchmark indices as they continued to shed gains in the past few trading sessions.

Stock Market Opening Today

Nifty Bank opened 88 points higher at 56,310. The broad market indices continued to build on their gains made in the previous trading sessions. From Nifty 100, 200, 300 to Nifty Smallcap 50, most of the broad-market indices were trading in green.

The stock market showcased an overall positive sentiment with an improved advance-to-decline ratio. According to BSE, nearly 1,800 stocks advanced against 980 stocks declining on Wednesday at 9:33 am.

Stock Market Today: Top Gainers, Top Losers

L&T, JSW Steel, Tata Consumer, Asian Paints, Bharti Airtel, NTPC, etc were among the top Nifty 50 gainers today. Whereas, Tata Motors, Dr Reddy's, Eternal, Hindustan Unilever, Coal India, etc were among the top laggards.

Stock Market Today: Will Nifty 50 Regain Ground, Or Fall Further?

While Nifty 50 is expected to make a range-bound movement during JUly 30's trading session, it may fall further downside if it goes below the 24,750 mark, according to brokerage Nirmal Bang.

"Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 24750. If Nifty closes below that, further downside can be expected towards 24670-24600 mark. On the flip side 24900-24970 will act as strong resistance levels," noted the brokerage in its report.

Global Stock Market Today

The US stock market closed in the red ahead of the upcoming US Fed rate announcement. The S&P500 closed 18.9 points lower at 6,370, whereas the Dow Jones Industrial Average (DJI) closed 0.46% lower at 44,632.99 points. The Nasdaq composite fell around 0.38% to close at 0.38%.

The Asian stock market showcased a mixed sentiment with Nikkei 223 trading 0.12% higher at 40,723 points, whereas Hang Seng Index was down 0.29% at 25,449.

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