Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Tuesday. While Nifty50 was above 25,100, BSE Sensex was above 82,500. At 9:17 AM, Nifty50 was trading at 25,126.10, up 23 points or 0.091%. BSE Sensex was at 82,494.36, up 49 points or 0.060%Market experts anticipate continued upward momentum, supported by favourable domestic indicators.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Nifty is likely to consolidate in the 24500 – 25500 range in the near-term. There are no short-term triggers to take the Nifty beyond the upper band. Some profit booking pulling the market slightly down is likely. But ample liquidity will ensure that dips will get bought, helping the market to consolidate.”“From the global perspective, market participants will be keenly following the progress of trade talks between the U.S. and China. Even though there is optimism regarding a favourable outcome, it is unlikely to happen quickly. Since the market has run up in the last two trading days and valuations have got stretched, some profit booking can be considered to hedge against unexpected developments.”US equities finished positively on Monday, with Amazon and Alphabet leading gains. Investors remained focused on US-China diplomatic efforts to resolve trade disagreements that have affected financial markets throughout the year.Asian equities were set to open higher on Tuesday, driven by optimism surrounding US-China trade discussions as officials reported positive progress after initial talks.Gold prices held steady on Tuesday as investors observed the ongoing US-China trade negotiations in London, which aim to resolve trade differences between the world’s largest economies.Foreign portfolio investors purchased shares worth Rs 1,993 crore net on Monday. Domestic institutional investors acquired Rs 3,504 crore net.FIIs’ position in futures market increased to net short of Rs 95,872 crore on Monday from Rs 92,600 crore on Friday.(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)
About The Author
