Stock market today: The bull run in BSE share prices extended for the second straight session on Friday. BSE share price today opened with an upside gap at ₹3,400 and hit an intraday high of ₹3,474 within a few minutes of the Opening Bell. However, some profit booking took place at the higher levels and by 10:20 AM, the BSE share price was around ₹3,437 per share, logging an intraday gain of around 4%. The BSE share price has been rising for two consecutive days. In the last two straight sessions, the BSE share price has surged from ₹3,168 to ₹3,474, logging a nearly 10% rise.
According to stock market experts, the BSE share price is showing positive movement following SEBI’s statement to review derivative settlement prices. They said that the market has taken SEBI’s move as a big positive development regarding market volatility and pricing issues linked to the newly introduced Closing Auction Session (CAS). They said the BSE share price may continue to remain an ideal ‘buy-on-dips’ stock and can soon touch the ₹3,700 per share levels.
Why is the BSE share price rising today?
Highlighting the reason for the rise in the BSE share price for the last two sessions, Anuj Gupta, a SEBI-registered market expert, said, “The uptrend in the BSE shares came after the BSE’s statement to review the derivative settlement prices. This has injected positive market sentiment regarding the volatility and pricing issues associated with the newly introduced CAS.” The SEBI-registered expert said that trend reversal in the Indian stock market could also be a reason for a rise in the BSE shares.
BSE share price target
On what technical chart suggests about the BSE shares, Sumeet Bagadia, Executive Director at Choice Broking, said, “The stock is in an uptrend on the technical chart. BSE share price is expected to touch ₹3,600 to ₹3,700 in the near-term. So, BSE shareholders are advised to hold the scrip, maintaining a stop loss at ₹3,300 apiece.”
On the suggestion to fresh investors, Sumeet Bagadia said that they can also buy and hold BSE shares for the above target, maintaining a stop-loss at ₹3,300.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.