Stock market today: Nifty50 opens below 25,800; BSE Sensex down almost 300 points
Analysts indicate favourable conditions for equities, citing reduced retail inflation, export policy support measures, and positive corporate earnings results.
The Bihar election results may introduce additional market volatility today.Dr.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The market will be focused on the Bihar election outcome today.
But the market reaction to the election results will be only temporary, whatever the results might be.
The medium to long-term trend of the market will be dictated by fundamentals, particularly the earnings growth.
On this front there is room for optimism as indicated by prospects of robust GDP growth and improving earnings growth.” “India’s underperformance this year is unlikely to last.
It is important to understand that despite the big underperformance of Nifty, so far this year, Nifty continues to be the best performing index among the large markets of the world during the last 5-year period.
The dip in corporate earnings in FY25 and the elevated valuations have been weighing on the market this year.
This market construct is set to change for the better, going forward.”US equities declined on Thursday, particularly in Nvidia and AI-related stocks, as investors reduced rate cut expectations amid inflation concerns and mixed views from central bankers about US economic conditions.Asian equities declined at Friday’s opening following Wall Street’s retreat, influenced by Fed rate cut uncertainty and high technology stock valuations.Foreign portfolio investors offloaded shares worth Rs 384 crore on Thursday, whilst domestic institutional investors buyd Rs 3,092 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)
