Stock market today: Nifty50 goes below 25,000; BSE Sensex down over 300 points
Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, opened in red on Friday. While Nifty50 went below 25,000, BSE Sensex was down over 300 points. At 9:16 AM, Nifty50 was trading at 24,944.60, down 118 points or 0.47%. BSE Sensex was at 81,847.90, down 336 points or 0.41%.Market experts anticipate Indian markets to trade within a defined range, with movements influenced by first-quarter earnings results. Trading activity is expected to remain focused on individual stocks as more companies release their quarterly performance figures.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The India-UK FTA, which is India’s first comprehensive trade agreement with a major developed country, has two implications from the market perspective. One, this FTA will significantly boost trade between both countries, which will be seen as a positive by the market. Two, this FTA along with many other FTAs signed by India with other countries, projects India as a nation committed to free trade. The fact that this FTA has come during a time of tariff wars is commendable, and hopefully this will improve India’s chances of striking a fair-trade deal with the US. Sectors like textiles, leather, food processing, automobiles, pharmaceuticals and gems and jewellery, which are expected to benefit from the FTA, will be on the market radar.”“The near-term market construct has turned weak. Sustained FII selling of Rs 11572 crores in the last four trading days will weigh on the market. The weakness in the broader market, particularly in smallcaps, might continue since valuations had turned excessive and difficult to justify.”The S&P 500 and Nasdaq reached record closing levels on Thursday, driven by strong performance from Alphabet, boosting confidence in AI-focused stocks, while Tesla shares declined following disappointing results.Asian equities started lower on Friday, ending their longest positive streak since January, as Federal Reserve rate cut uncertainties dampened investor confidence.Precious metal gold showed modest gains during early Asian hours on Friday, supported by dollar weakness, though positive developments in international trade talks limited further advances.Crude oil prices advanced on Friday, supported by positive sentiment surrounding potential US-EU trade agreements and news about Russia’s planned restrictions on fuel exports to multiple nations.Foreign portfolio investors sold shares worth Rs 2,133 crore net on Thursday, while domestic institutional investors purchased Rs 2,617 crore net.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
