Stock market today: Nifty50 opens below 26,150; BSE Sensex down over 100 points
[ad_1]
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Wednesday. While Nifty50 went below 26,150, BSE Sensex was down over 100 points. At 9:18 AM, Nifty50 was trading at 26,132.00, down 47 points or 0.18%. BSE Sensex was at 84,953.09, down 110 points or 0.13%.Analysts believe that equity markets are expected to move in a narrow range in the near term, as optimism from encouraging third-quarter business updates is offset by lingering geopolitical risks.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The recent market movements have been devoid of any trend and clear direction. Actions in a few mega stocks are influencing the overall market disproportionately. For instance, yesterday despite positive institutional buying Nifty drifted down by 71 points, mainly due to sharp declines in two stocks- Reliance and HDFC Bank. The large volumes in these two stocks in the derivative and cash market indicate activity associated with settlement day. In other words, the sharp dips in these stocks have nothing to do with their fundamentals; it is more technical in nature.” “Going forward, there is scope for high volatility caused by events and news. Trump tweets and actions can always influence the market. Another important event which investors should closely watch is a possible Supreme Court verdict on Trump tariffs very soon. If the verdict goes against the reciprocal tariffs it will create huge volatility in stock markets.”Global cues were mixed. Wall Street closed higher on Tuesday, supported by a strong rally in semiconductor stocks driven by renewed enthusiasm around artificial intelligence. Shares of Moderna also advanced, while the Dow Jones Industrial Average climbed to a fresh record high.Asian markets paused on Wednesday after a strong start to the year. Japanese equities declined amid rising tensions with China, prompting some investors to turn cautious despite the broader strength seen in global stocks so far this year.On the institutional front, foreign portfolio investors were net sellers of Indian equities worth Rs 107 crore on Tuesday, according to exchange data. Domestic institutional investors, however, continued to provide support to the market, recording net purchases of Rs 1749 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)
[ad_2]
Source link
