Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Friday. While Nifty50 was above 24,600, BSE Sensex was up marginally. At 9:16 AM, Nifty50 was trading at 24,636.30, up 27 points or 0.11%.BSE Sensex was at 80,967.34, up 15 points or 0.019%.Indian equity markets declined on Thursday, influenced by negative signals from US markets. Despite global pressures, analysts indicate that a possible India-US trade agreement and strong domestic economic indicators could maintain market stability within ranges.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “After the 14 percent pull back from the March lows the market is struggling to find direction. It appears that the sustained FII buying which played the important role in this rally has run out of steam. The big FII selling on 20th and 22nd of this month indicates that the FIIs may again turn sellers if the global environment turns unfavourable.There are some global concerns arising out of the sharp rise in bond yields in US and Japan. Particularly the sharp spike in US bond yields with the 30-year yield touching 5.14 % and the 10-year yield at 4.52% reflect concerns surrounding the US debt levels and its fall out on global financial markets. It remains to be seen how this pans out.”“The silver lining from the market perspective is India’s strong macros particularly the resilient growth and declining inflation and interest rates. Even when the market turns weak domestic demand driven segments like financials, telecom, aviation etc are resilient and this is reflected in the strength in the stock prices of the big boys in these segments like ICICI Bank, Bharti Airtel and Interglobe Aviation.This message from the market is important.”US markets ended Thursday’s volatile session relatively unchanged, recovering from early losses as Treasury yields decreased following House approval of the President’s fiscal legislation.Asian markets opened cautiously on Friday, with Treasury bonds maintaining Thursday’s gains, indicating reduced concerns about US fiscal matters that affected markets earlier.Gold prices are heading towards their strongest weekly performance in more than a month this Friday, driven by a weakening dollar and increasing worries about the financial outlook of the United States, enhancing its status as a reliable investment.Oil prices declined on Friday due to a strengthening US dollar and potential increases in OPEC+ oil production. Brent futures decreased by 37 cents to $64.07 per barrel at 0015 GMT, whilst US West Texas Intermediate crude futures dropped 39 cents to $60.81.(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)
