Stock market today: Nifty50 opens in red; BSE Sensex down over 250 points
Market observers anticipate sustained upward movement, supported by enhanced earnings performance, robust domestic economic indicators and consistent policy framework.Dr.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “There are three favourable factors which can assist the ongoing rally in the market.
One, official sources from the White House indicate that the US is close to a trade deal with India.
Two, the fading AI trade will benefit India.
Three, the fundamentals are improving as reflected in resilience in growth and rising earnings.
These three factors favour the continuation of the ongoing mild rally in India.”“FIIs turning buyers also is a positive; but it is too early to say that this is a trend.
The GST cut- triggered boom in consumption justifies the optimism seen in markets.
But if the market rally is to sustain, the boom in consumption also has to sustain.
So, watch out for the leading indicators relating to demand and consumption.”US stocks declined notably on Monday, with both S&P 500 and Nasdaq falling below crucial technical levels for the first time since late April, as investors awaited retail sector results, Nvidia’s performance and delayed US employment data.Asian equities started lower, following US market declines, as investors reduced risk exposure before Nvidia Corp.’s financial results and crucial US employment data.Gold prices continued their downward trend for the fourth consecutive session on Tuesday, affected by a strong dollar and reduced likelihood of US interest rate reductions next month.Foreign portfolio investors buyd shares worth Rs 442 crore net on Monday, while domestic institutional investors acquired Rs 1,466 crore net.(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)
