Stock market today, Aug. 29 -- Domestic equities were flat during Friday's trading session, even as the benchmark indices started with slight gains following the significant selling pressure from the previous day. Market analysts indicated that, although short-term sentiment is weak, the oversold conditions of the markets are contributing to a bounce back.

At 12:38 IST, the Nifty 50 was trading 24,532 . 35 level, up by 28.80 points or 0.10%, while the Sensex was trading at 80,173.06, marking a gain of 93.25 points or 0.12%.

Prashanth Tapse from Mehta Equities thinks that any rebound for Nifty 50 is likely to encounter resistance around 24,700, while if selling pressure persists, the downside could reach levels of 24,300-24,200. Tapse re...