Stock market today: Nifty50 opens flat; BSE Sensex near 84,350
Market watchers anticipate that trading will be influenced by global factors, particularly the US Federal Reserve’s monetary policy decisions and FOMC’s commentary on US economic prospects.“Though yesterday saw a revisit of previous day’s low of 25732 on anticipated lines, we are still left with no directional clarity, with momentum oscillators remaining soft.
This prompts us to persist with prevailing bias, thus favouring slippages.
We favour a regrouping of bulls, once in the 25690-630 vicinity, a collapse below which is required for abandoning upside hopes,” says Anand James, Chief Market Strategist, Geojit Investments Limited.US stocks climbed on Wednesday following the Federal Reserve’s anticipated quarter-point rate reduction.
Investors remained optimistic about additional rate cuts despite the central bank indicating a temporary pause in easing.Asian stocks tracked Wall Street’s positive performance after the Fed’s rate cut.
Chair Jerome Powell expressed confidence in US economic growth as tariff-related inflation pressures diminish.Crude oil prices climbed for a consecutive session on Thursday following the United States’ seizure of a sanctioned oil vessel near Venezuela’s waters, heightening diplomatic strains and sparking concerns about potential supply interruptions.Gold prices climbed on Thursday following the US Federal Reserve’s interest rate reduction, despite divided opinions amongst policymakers regarding future cuts next year, whilst silver reached another peak.Foreign portfolio investors recorded net sales of Rs 1,651 crore on Wednesday, whilst domestic institutional investors were net buyrs at Rs 3,752 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)
