Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Thursday following global cues. While Nifty50 was near 25,300, BSE Sensex rose around 150 points. At 9:18 AM, Nifty50 was trading at 25,290.90, up 46 points or 0.18%. BSE Sensex was at 82,904.55, up 149 points or 0.18%.Market experts anticipate Indian markets to maintain strength, supported by reduced international geopolitical risks and encouraging domestic indicators.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “With ceasefire between Israel and Iran, globally markets are in a risk-on mode. But since the reciprocal tariff issue remains to be addressed, sustained rally would be difficult. The market focus in the near-term will be on what transpires around July 9th when the 90-day pause of the reciprocal tariff ends. Which countries will succeed in negotiating bilateral trade deals with US will be keenly watched. Positive news on a potential India-US deal will be a shot in the arm for the market. Disappointment on this front will constrain the rally.”“FIIs are likely to press selling in the market since Indian valuations have got stretched at above 22 times estimated FY 26 earnings while the PE for Chinese stocks ( Hang Seng Index) is around 15. This kind of differential in valuations may revive the ‘Sell India, Buy China’ strategy of the FIIs. However, since DIIs are sitting on huge liquidity, the potential FII selling is likely to have negligible impact on the market.“Asian stocks increased early Thursday, led by Japanese equities following a steady session on Wall Street as investors evaluated ongoing economic and geopolitical challenges.American stocks paused their two-day advance on Wednesday whilst the fragile Israel-Iran ceasefire remained intact. Investors analysed Federal Reserve Chair Jerome Powell’s second day of congressional testimony.Oil prices edged upwards, continuing previous day’s gains as US crude inventories showed a significant reduction, indicating strong demand. Investors remained vigilant regarding the Iran-Israel ceasefire and regional stability in the Middle East.Gold prices increased slightly on Thursday, benefiting from a weakened dollar. Investors awaited upcoming US economic indicators to gauge the Federal Reserve’s stance on interest rates.Foreign portfolio investors net sold shares worth Rs 2,427 crore on Wednesday. DIIs net purchased Rs 2,373 crore.FIIs’ net short position in futures market decreased from Rs 1.09 lakh crore on Tuesday to Rs 1.06 lakh crore on Wednesday.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Stock market today: Nifty50 opens near 25,300; BSE Sensex up over 150 points
view original post