Stock Market Update: Nifty50 and BSE Sensex Start Strong

Market experts suggest the Nifty index will likely approach its previous all-time highs. (AI image)

Indian Stock Market Opens High

The Indian stock market opened strongly on Friday. Both Nifty50 and BSE Sensex started the day on a positive note. This was due to good global cues.

Current Market Status

• Nifty50: Trading at 25,596.00, up by 47 points or 0.185%
• BSE Sensex: Trading at 83,887.29, up by 131 points or 0.16%

What Market Experts Say

Market experts believe the Nifty index will likely reach its previous all-time highs soon. This optimism comes from strong domestic economic signs and good global conditions.

VK Vijayakumar’s Analysis

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, shared his thoughts:

• The current bull market has been resilient. It started after the Covid crash in March 2020.
• Despite high inflation and geopolitical events, the market has kept climbing.
• The upcoming tariff deadline on July 9th is unlikely to affect the rally. News suggests this deadline may be extended.
• The dollar’s weakness has led to big foreign investments. FIIs invested Rs 12,594 crores recently.
• Large-cap stocks like HDFC Bank, ICICI Bank, and RIL have gained from this investment.
• While the market momentum is strong, some profit booking may happen soon.

Global Market Effects

US markets ended higher on Thursday. The S&P 500 and Nasdaq are near record closes. This rise was supported by:

• The ongoing Israel-Iran ceasefire
• Economic data suggesting possible Federal Reserve interest rate cuts this year

Oil Prices and Investor Actions

Oil prices went up on Friday due to high fuel demand during the US summer driving season. But weekly declines were seen because of the continued Iran-Israel ceasefire and reduced Middle East supply worries.

Foreign investors bought shares worth Rs 12,594 crore on Thursday. Domestic investors sold shares worth Rs 195 crore.

Foreign investors’ position in the futures market went down from a net short of Rs 1.06 lakh crore on Wednesday to Rs 34,967 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.