Stock market today: BSE Sensex dips 200 points; Nifty50 above 22,350

Stock market today : BSE Sensex and Nifty50 , the Indian equity benchmark indices, opened in red on Thursday. BSE Sensex dipped 200 points and Nifty50 was near 22,300 levels. At 9:35 AM, BSE Sensex was trading at 73,767.43, down 86 points or 0.12%. Nifty50 was at 22,369.05, down 33 points or 0.15%.

The Indian stock markets extended their winning streak for the fourth consecutive session on Wednesday, supported by positive global sentiment.

"Despite the bulls maintaining their upward trajectory for the fourth consecutive session, there's a noticeable lack of momentum," said Rajesh Bhosale, Technical Analyst, Angel One.

Technical analysts remain optimistic about the short-term market sentiment, with the Nifty closing above critical moving averages, said an ET report.

Global markets presented a mixed picture, with the S&P 500 closing higher in choppy trading, while Asian equity markets experienced a decline following disappointing results from Meta Platforms Inc. Oil prices eased slightly due to concerns about a potential slowdown in the U.S. economy and the prospect of delayed interest rate cuts.

The Japanese yen remained on the weaker side of 155 per dollar as the Bank of Japan began its two-day rate-setting meeting, leaving traders cautious about potential intervention by Tokyo.

Foreign portfolio investors (FPIs) continued to be net sellers for the third consecutive day, offloading shares worth Rs 2,511 crore on Wednesday. Domestic institutional investors (DIIs), on the other hand, bought shares worth Rs 3,809 crore. The rupee settled marginally higher at 83.30 against the US dollar, supported by positive domestic equities but offset by a rising American currency.

Several prominent companies, including Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, and LTTS, are set to announce their fourth-quarter earnings on Wednesday, providing further insights into the performance of various sectors.