Stock Market Today: Sensex hits all-time high, Nifty crosses 25,900

Stock Market Today: The SENSEX and Nifty 50 grabbed an all-time high during the opening trade on Monday, much to the dismay of the investors who were skeptical on how long the rallies in the US markets following the giant rate cut by the US Federal Reserve would last, both the domestic benchmarks outperforming.

At the opening bell, the BSE Sensex was higher by about 151 points, or 0.18 percent, whereas the Nifty has gained about 84 points, or 0.33 percent, at 25,875.

The Indian markets during Friday’s trades were at an all-time high as the two important indices, the BSE Sensex and Nifty 50, gained one percent on each index.

Nifty 50 also registered an all-time high of 25849.25 Nifty 50 to end up with a gain of 1.48%, or 375 points higher at 25791. Sensex up by 1360 points, or 1.63%, at 84544.31.

From daily charts, clear evidence becomes simple towards the fact that the Nifty has consolidated in the region of 24200–24150, which is where the 40-day average rests. The bearish cross of the momentum oscillators and the ongoing weakness of the structure support our sell call. Jatin Gedia of Sharekhan says any rise towards the key moving averages 24250–24300 can be used to initiate fresh shorts with targets of 23890–23600.

Global Overview At the opening on Monday, underwhelming performance was seen all through the Asia Pacific markets as investors reacted to China and Japan’s interest rate announcements. One national holiday caused the Japanese markets to be closed but the Australian S&P/ASX 200 was up by 0.43 percent on Monday. On the other hand, the Hang Seng index futures for Hong Kong were lower at 18199 against the previous close of 18258.57, while the Kospi in South Korea was lower by 0.15 percent.

While trading in China’s CSI 300 Index futures available at 3183.8 was lower than 3201.05 of the previous close. Additionally, the dollar was on the move upward while Wall Street closed the session UR with the Dow and S&P 500 remaining close to Thursday’s record highs. At the end of the week, all three major US stock indexes were up not far from last Thursday’s record highs as investors started buying risky assets. As regards the FedWatch Tool of CME, the market has already fully priced in a decrease of at least 25 basis points in November, while the market considers a cut of fifty points as 48.9 percent probable.

At the close of markets, the S&P 500 was down about 0.19 percent and at 5,702.55, the marks for US stocks were 0.36 percent down, the Nasdaq Composite ended at 17,938548, and as for the Dow Jones Industrial Average, it finished positive at 0.09 percent to end the day at 42963.03 BT.

The global stock market index MSCI reduced to 837.69 by 0.21 percent.