Stock market today: Nifty and Sensex inch up, foreign investors boost markets equity purchases

NSE Nifty was up by 0.18 per cent or 41.55 points to 22,955, while the BSE Sensex was at 75,568 up by 0.21 per cent or 158 points.

NSE Nifty was up by 0.18 per cent or 41.55 points to 22,955, while the BSE Sensex was at 75,568 up by 0.21 per cent or 158 points.

Also read:Indian bond yields seen flattish at start of new weekA total of 3,308 stocks were actively traded, 1,812 advanced, while 1,356 declined and 140 stocks remained unchanged where 139 stocks hit a 52 week high and 32 stocks hit a 52 week low at 1 pm on the BSE.

Deven Mehata, Research Analyst, Choice Broking, said, “The benchmark Sensex and Nifty indices are expected to open flat on May 27, following GIFT Nifty trends indicating a loss of just seven points for the broader index.

Nifty can find support at 22,900 followed by 22,850 and 22,800. On the higher side, 23,050 can be an immediate resistance, followed by 23,100 and 23,200. The charts of Bank Nifty indicate that it may get support at 48,800, followed by 48,600 and 48,500. If the index advances, 49,100 would be the initial key resistance, followed by 49,300 and 49,400.

Foreign institutional investors remained net buyers as they bought Indian equities worth ₹944.83 crore worth of shares on May 24. On the other hand, domestic institutional investors bought ₹2,320.32 crore worth of equities on the the same day. INDIAVIX was positive on Friday and closed higher, up by 1.54 per cent and is currently trading at 21.7100.

On Friday, Nifty made a fresh all-time high above 23,000 levels. Traders are advised to purchase on dips near the strong support at 22,800 levels, with a stop loss of 22,700 on closing basis. On the higher side, Nifty can move towards 23,200 and 23,500 in coming days. Bank Nifty has also shown strength and hence it can also move higher towards the next resistance of 49,400-49,600 levels.

Top gainers on the NSE at 9.30 am include, Divi’s Lab (4.14 per cent), Adani Ports (1.95 per cent), Hindalco (1.39 per cent), Shriram Finance (0.98 per cent), JSW Steel (0.96 per cent). Major losers on the NSE include, Adani Enterprises (-1.96 per cent), Wipro (-1.27 per cent), ONGC (-1.06 per cent), Maruti (-0.91 per cent), Dr Reddy’s Lab (-0.67 per cent).

Also read:Stocks that will see action today: May 27, 2024BSE Smallcap was down by 0.31 per cent, while BSE Midcap was up by 0.27 per cent.

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