Stock market today: Nifty50 opens above 25,950; BSE Sensex up over 300 points, goes past 85,100 mark
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Friday. While Nifty50 was near the 26,000 mark, BSE Sensex was up over 300 points. At 9:16 AM, Nifty50 was trading at 25,976.75, up 78 points or 0.30%. BSE Sensex was at 85,108.90, up 291 points or 0.34%.Indian stock markets moved upwards on Thursday, breaking a three-day downward trend in Nifty. Foreign institutional investors continued their selling streak for the eleventh consecutive session. Investors await crucial data releases including India’s CPI and figures today.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “A healthy feature of the investment behaviour of retail investors is the steady inflows into mutual fund SIPs, which have been consistently above 29000 crores during the last three months. This has strengthened the DIIs in the FIIs vs DIIs tug of war and has enabled the DIIs to absorb the sustained selling by FIIs. It would be difficult for the FIIs to sell continuously and maintain a high short position in the market in the context of healthy SIP inflows, particularly when the economy is doing well and the prospects for earnings growth are improving.” “It is important to understand that rupee depreciation, sustained FII selling, delay in the finalisation of the US-India trade deal and the ongoing AI trade are all temporary drags on the markets. The most important factor that will dictate the direction of the market is the earnings growth, and this looks promising for FY 27. In December so far, FIIs have sold equity worth Rs 14845 crores through the exchanges. This sell figure has been completely eclipsed by the DII buying for Rs 36097 crores during this period. Sustained selling in India when the prospects for growth and earnings look bright is not a sustainable policy. This can lend support to the market.”Regional Asian equities opened higher, following record-setting performances in US and global markets, supported by the Federal Reserve’s third sequential rate reduction.The S&P 500 and Dow Jones reached new closing highs on Thursday after the Federal Reserve’s policy announcement proved less aggressive than anticipated. The technology-focused Nasdaq declined as Oracle’s financial report caused wariness regarding AI investments.Gold prices fell on Friday following a more than seven-week peak in the previous session, as investors took profits.Foreign portfolio investors sold shares worth Rs 2,021 crore net on Thursday. DIIs were net purchasers at Rs 3,796 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)
