Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Monday. While Nifty50 was below 24,700, BSE Sensex dropped over 150 points. At 9:23 AM, Nifty50 was trading at 24,689.15, down 34 points or 0.14%. BSE Sensex was at 80,865.86, down 153 points or 0.19%.Market participants are awaiting crucial global economic indicators, including US Services and Manufacturing PMI releasing today, alongside financial results from Bharti Airtel, Adani Ports, Prestige Estates, Bharti Hexacom, and Lupin, which could influence specific stock movements before the RBI’s policy decision.US President Donald Trump’s fresh announcement of higher tariffs on India for the latter’s continued purchase of Russia crude oil. “India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA. Thank you for your attention to this matter!!! ,” Trump posted on Truth Social on Monday.US equity indices registered their strongest daily percentage gains since May 27 on Monday, as investors purchased discounted shares following the previous session’s decline and increased expectations for a September rate reduction after Friday’s lower-than-anticipated employment figures.Asian stocks moved up at opening following bargain hunting and positive sentiment regarding interest rate reductions, which helped the S&P 500 achieve its largest advance since May.Gold prices advanced on Tuesday, continuing the upward trend from the previous three sessions. The surge was backed by declining US dollar and reduced Treasury yields, following disappointing US employment data that increased the likelihood of the Federal Reserve reducing rates in September.Oil prices remained stable on Tuesday following three consecutive days of decline. The market faced oversupply concerns after OPEC+ confirmed another substantial production increase for September, although potential Russian supply interruptions provided some support.Foreign portfolio investors sold shares worth Rs 2,566 crore net on Monday. Domestic institutional investors purchased Rs 4,386 crore net.(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)
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