Stock market today: Day trading guide for Nifty 50 to Sensex, six stocks to buy or sell today — April 24
Day trading guide for today: Domestic equity benchmarks Sensex and Nifty 50 rose for the third straight day in the previous session following gains in telecom, tech and consumer durable shares amid a strong trend in the global markets. Volatility index plunged to within a margin of its record closing low amid fading worries over a major escalation in the Middle East conflict. The fear gauge India VIX which suggests how much the Nifty 50 index is likely to change in the next 30 days, plunged 20 per cent to reach near the level of 10.
A low India VIX indicates that the market is stable and predictable. The VIX dropped today in its steepest one-day decline since May 23, 2019, and settled just a few points near its record closing low from July 28, 2023. Sensex settled with a slim gain of 90 points, or 0.12 per cent, at 73,738.45 as gains in shares of heavyweights including Bharti Airtel, ITC, Infosys and SBI were offset by losses in shares of Reliance Industries.
Also Read: India needs 8-10% growth over next decade to reap demographic dividend: RBI Nifty 50 closed the day at 22,368, up 32 points, or 0.14 per cent. The two indices gained about 1.7 per cent each over the past three sessions. Mid and smallcap indices outperformed the benchmarks.
The BSE Midcap index rose 0.52 per cent and the smallcap index jumped 1.05 per cent. Commenting on markets, Vinod Nair, Head of Research, Geojit Financial Services said, "The domestic market exhibited range-bound performance, tracking positive global cues with sustained outperformance of the broader market. While tensions between Iran and Israel were perceived to have limited escalation, the uptick in crude prices suggests investors’ reassessing the risks.''
On the outlook for Nifty
