Stock market today: Nifty50 crosses 25,100; BSE Sensex up over 400 points
Looking ahead, investors will concentrate on crucial macroeconomic indicators for direction. (AI image)
Stock market today:
Nifty50
and
BSE Sensex
, the Indian equity benchmark indices, opened in green on Monday. While Nifty50 went above 25,100, BSE Sensex was up over 400 points. At 9:18 AM, Nifty50 was trading at 25,128.20, up 125 points or 0.50%.
BSE Sensex was at 82,577.77, up 389 points or 0.47%.
Looking ahead, investors will concentrate on crucial macroeconomic indicators for direction. The advancement of monsoon and agricultural sowing patterns remain under observation, considering their effect on rural spending.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, 'The monetary bazooka fired by the RBI on Friday will keep the market spirits alive in the near-term.
But this is not sufficient to sustain the rally triggered on Friday. More important is the trend in earnings growth. Q4 results indicate better earnings growth for midcaps. But large and small caps continue to struggle.'
'FY 26 earnings are unlikely to reach mid teens, which is necessary for the market to remain resilient and move up. Market needs signs of revenue and earnings acceleration to move up. In the absence of such indicators the present Nifty range is likely to move up marginally to 24500 -25500. Ample liquidity can support the downside but earnings concerns will cap the upside. Weak US and Chinese macro data is favourable for emerging markets like India"
US stocks recorded substantial gains on Friday, with Treasury yields increasing as positive employment data and Tesla's recovery helped achieve weekly gains.
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Asian equities began higher on Monday as the US and China prepare to restart trade talks, whilst positive employment figures from the US reduced recession concerns.
The dollar maintained stability against major currencies on Monday, as initial enthusiasm over positive U.S. employment data shifted to wariness before crucial U.S.-China trade discussions scheduled in London later in the day.
Gold prices decreased on Monday following a stronger US jobs report than anticipated, which reduced expectations for Federal Reserve interest rate reductions.
Additionally, positive sentiment regarding decreasing US-China trade tensions affected the precious metal's safe-haven appeal.
Oil prices maintained previous week's gains early Monday as traders awaited the US-China trade negotiations in London later in the day. Brent crude futures remained unchanged at $66.47 a barrel at 0008 GMT. U.S. West Texas Intermediate crude traded at $64.59, up 1 cent.
Foreign portfolio investors purchased shares worth Rs 1,010 crore net on Friday.
Domestic institutional investors were net buyers at Rs 9342 crore.
FIIs' position in futures market improved from net short of Rs 1.06 lakh crore on Thursday to Rs 92,600 crore on Friday.
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