Stock market today: Nifty50 opens flat; BSE Sensex above 82,500
Market sentiment could be influenced by positive progress in US-China trade relation. (AI image)
Stock market today:
Nifty50
and
BSE Sensex
, the Indian equity benchmark indices, opened flat in trade on Thursday, While Nifty50 opened above 25,150, BSE Sensex was above 82,500. At 9:18 AM, Nifty50 was trading at 25,155.95, up 15 points or 0.058%.
BSE Sensex was at 82,549.09, up 34 points or 0.041%.
Market sentiment could be influenced by positive progress in US-China trade relations and India-EU Free Trade Agreement negotiations.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, 'The recent flattish trend in the market is likely to continue in the near-term since there are no clear positive triggers that can push the market much higher.
There are reports of a possible agreement between the U.S. and China. But the Chinese haven't officially confirmed anything. President Trump is talking about 55% tariff on China and 10% tariff on U.S.
President Trump's credibility being what it is, it would be too early to discount this as positive for markets. Also President Trump has declared that he will be sending letters to trade partners in the next two weeks setting universal tariffs.
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Market participants will be waiting and watching for clarity on this. The tariff crisis is not yet over.
The spike in Brent crude to $70 on heightened security risks in the Middle East is a negative for India. Sectors like paints, adhesives, tyres and aviation are likely to respond negatively to this while ONGC and Oil India can respond positively."
Wednesday saw the S&P 500 close lower as Middle East tensions concerned investors, whilst a moderate inflation report eased worries about tariff-related price increases.
Investors await further information on China-US trade discussions.
US index futures and the dollar weakened after President Donald Trump announced plans to implement unilateral tariffs within two weeks, escalating trade tensions. Oil prices increased due to the Middle East situation.
Gold prices advanced on Thursday due to heightened Middle East tensions driving safe-haven demand, whilst lower-than-anticipated US inflation figures strengthened the likelihood of Federal Reserve interest rate reductions.
Oil prices reached their highest level in over two months on Thursday following US President Donald Trump's announcement regarding US personnel withdrawal from the Middle East, sparking concerns about potential Iranian supply disruptions.
Foreign portfolio investors sold shares worth Rs 446 crore net on Wednesday, whilst DIIs purchased Rs 1585 crore net.
FIIs' position in futures market decreased from Rs 93,024 crore net short on Tuesday to Rs 86,594 crore on Wednesday.
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