Stock Market Today: BSE Sensex Starts Over 100 Points Lower; Nifty50 Hovers Near 23,150
Market Experts Predict Short-Term Recovery
On Friday, the BSE Sensex and Nifty50, India’s primary equity benchmark indices, began the day in the red. The BSE Sensex dropped by more than 100 points, while the Nifty50 hovered near 23,150.
At 9:16 AM, the BSE Sensex was trading at 76,237.17, down 111 points or 0.15%. The Nifty50 was at 23,167.10, down 24 points or 0.10%.
Global Market Strength Fuels Performance
During the weekly expiry session on Thursday, the benchmark indices showcased robust performance, marking their fourth consecutive session of gains. This was due to strong global market conditions.
Dr. V K Vijayakumar’s Insights
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented, “The market rally this week, with the Nifty rising by 3.5%, occurred amid escalating trade tensions and anticipated reciprocal tariffs starting April 2nd. The primary driver of this rally is the buying by FIIs in the cash market over two days and a significant decrease in their short positions and increase in long positions in the futures market. This has boosted retail investor confidence, leading to increased buying in the broader market, which is evident in the recovery of mid and small-cap indices. Most of the gainers are domestic consumption themes, which will be unaffected by the reciprocal tariffs. Investors may wait for the reciprocal tariff announcement on April 2nd before deciding on their investment strategy.”
Short-Term Recovery Expected
Market experts foresee continued recovery in the short term, backed by positive global indicators and strategic value investments at lower price points.
US Markets Close Slightly Lower
On Thursday, US markets closed marginally lower, fluctuating between positive and negative territory as investors weighed recent economic reports and Federal Reserve policy decisions against tariff concerns.
Mixed Movements in Asian Equity Markets
Asian equity markets displayed varied movements on Friday, as concerns about Donald Trump’s potential trade actions impacted global market sentiment.
Gold Prices Hold Steady
Gold prices remained stable on Friday, trading below the previous session’s record high. The precious metal drew support from safe-haven demand due to global uncertainties, while the Federal Reserve’s indication of potential rate cuts increased its appeal.
Foreign Portfolio Investors Turn Net Buyers
Foreign portfolio investors turned net buyers on Thursday, investing Rs 3,239 crore, while domestic institutional investors (DIIs) sold shares worth Rs 3,136 crore. FIIs’ net short position decreased from Rs 1.28 lakh crore on Wednesday to Rs 1.11 lakh crore on Thursday.
