Stock Market Today: Nifty50 and Sensex Updates
Market Overview
Future market movements will likely be influenced by international factors. (AI image)
Current Market Status
The Indian stock market started low today. Both the Nifty50 and BSE Sensex saw a decline.
- Nifty50 was below 24,850.
- BSE Sensex dropped over 100 points.
At 9:16 AM, the details were:
- Nifty50: 24,824.65, down 29 points or 0.12%
- BSE Sensex: 81,472.53, down 111 points or 0.14%
Expert Insights
VK Vijayakumar is the Chief Investment Strategist at Geojit Investments Limited. He shared his views on the market:
“Recent events in West Asia suggest rising conflict. However, global equity markets are calm. Markets believe this conflict will end soon without harming the global economy.”
He also said, “We have been in a bull market since the Covid crash in March 2020. The market has overcome many challenges and will likely overcome the Israel-Iran conflict worry too. Despite high valuations, the market should stay strong. Strong liquidity and hopes of better earnings support this. The 24500-25000 range should hold in the near term. Positive news on the West Asian conflict could push the market higher. A buy-on-dips strategy should continue to work.”
Global Market Influences
US stocks fell on Tuesday. Tensions between Israel and Iran continued for the fifth day. This kept investors worried. The US sent more military aircraft to the Middle East.
Oil prices rose. Most Asian stocks followed Wall Street’s decline. Concerns grew about potential US involvement in the Middle East tensions.
Commodity Market Updates
Gold prices stayed stable on Wednesday. This was due to ongoing Israel-Iran tensions. However, gains were limited by a stronger dollar. Markets are waiting for the US Federal Reserve’s policy announcement.
Oil prices increased early on Wednesday. This followed a more than 4% rise in the previous session. Concerns about supply disruptions from the Iran-Israel conflict drove this increase.
Investor Activities
Foreign portfolio investors sold shares worth Rs 1,483 crore net on Tuesday. Domestic institutional investors bought shares worth Rs 8,207 crore net.
FIIs’ position in the futures market decreased. It went from Rs 1.01 lakh crore net short on Monday to Rs 99,483 crore net short on Tuesday.
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.
