Stock market today: Nifty50 opens in green; BSE Sensex up around 350 points
Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, opened in green on Friday on positive global cues. While Nifty50 went above 25,900, BSE Sensex was up around 350 points. At 9:16 AM, Nifty50 was trading at 25,913.10, up 98 points or 0.38%. BSE Sensex was at 84,830.34, up 349 points or 0.41%.After experiencing weakness, the Nifty index appeared to stabilize with a slight downward trend on Thursday. Analysts suggest that the market’s short-term trend remains volatile with a weak bias.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “FIIs stopping selling during the last two days, though positive from the market perspective, doesn’t indicate a directional change in the market. A lot will depend on the Bank of Japan’s rate decision today. It is almost certain that BoJ will raise rates by 25bp and, therefore, such a decision is unlikely to impact the market. What the market is looking for is commentary from the Japanese central bank regarding future rate action in the context of inflation in Japan. If the BoJ chief sends a hawkish message indicating more rate hikes, that would impact the market since the market will fear further unwinding of the yen carry trade, triggering more FII outflows from markets like India. Therefore, watch out for the BoJ commentary.” “Meanwhile, cooling inflation in the US ( November core inflation has come at 2.6%, lower than the estimate of 3%) is imparting resilience to the US economy and markets. This augurs well for global equity markets as 2025 draws to a close.”Asian stocks rose on Friday following a report of cooling US inflation, which bolstered the case for potential interest rate cuts by the US Federal Reserve. This, along with easing concerns in the tech sector, supported gains in US stocks.On Wall Street, the main indexes ended higher on Thursday. A soft inflation report fueled expectations for Federal Reserve interest rate cuts, while a strong forecast from chipmaker Micron indicated robust demand for AI technology.The Consumer Price Index showed that consumer prices rose less than anticipated over the year to November. The Labor Department’s Bureau of Labor Statistics did not release month-to-month CPI changes due to the 43-day government shutdown, which disrupted the collection of October data.On Thursday, foreign portfolio investors purchased shares worth Rs 596 crore. Domestic institutional investors were also net buyers, acquiring shares worth Rs 2,700 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
