Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Tuesday. While Nifty50 was above 24,650, BSE Sensex was up around 100 points. At 9:32 AM, Nifty50 was trading at 24,659.60, up 25 points or 0.10%. BSE Sensex was at 80,452.63, up 88 points or 0.11%.Market experts anticipate near-term consolidation, influenced by global factors and upcoming economic indicators.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The near-term market structure appears weak. Sustained FII selling and absence of positive triggers are preventing any strong recovery in the market. Any attempt to climb up is facing selling pressure. This is evident from the negative closing yesterday despite the positive institutional inflow of above Rs 1000 crores.”“Long-term investors can use this drift in the market to accumulate the potential winners of the medium to long-term. Priority can be given to segments which are seeing good demand and order inflows. Defence stocks are fairly valued given their robust order pipeline. High quality financials are attractively valued. PSU banks are cheap.”US markets finished higher on Monday, with technology stocks leading the Nasdaq’s advance. Investors remained optimistic despite concerns about possible government shutdown and Fed officials’ strict stance.Gold prices achieved a new record as uncertainties surrounding US government funding affected Federal Reserve’s policy outlook before their next rate decision.Oil prices decreased on Tuesday following expectations of higher OPEC+ output and the restoration of oil exports from Kurdistan region through Turkey, indicating possible supply excess.Foreign portfolio investors offloaded shares valued at Rs 2,831 crore on Monday, whilst domestic institutional investors acquired shares worth Rs 3,846 crore.(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
