Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Friday after days of strong rallying. While Nifty50 was below 25,550, BSE Sensex was down over 100 points. At 9:20 AM, Nifty50 was trading at 25,540.75, down 45 points or 0.17%. BSE Sensex was at 83,345.53, down 122 points or 0.15%.Market experts anticipate further gains as companies continue to report earnings and potential progress occurs in India-US trade negotiations.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The market is resilient and technically strong. Price action in the leading stocks indicate short covering. Even now there are big shorts in the system and the strength in the market might keep the bears on the back foot, facilitating further short covering. Good results from the banking majors HDFC and ICICI can impart fundamental support to the market, and if RIL, which has been a laggard for some time now, also joins the rally, the market can sustain the momentum. for some more time. Muhurat trading and the festival cheer can add to the bullish spirits.” “However, there are some lingering concerns which should not be lost sight of. China has been imposing restrictions on exports of rare earth metals and magnets in recent days. China’s weaponisation of rare earths, in which it has around 90% global market share, is in response to Trump’s weaponisation of tariffs. Unfortunately, if this lingers, it will hurt all nations, including India.”US stocks ended lower on Thursday as concerns about regional banking sector weakness unresolved investors already worried about US-China trade relations. Zions Bancorporation shares dropped 13% after reporting unexpected losses on two California division loans, raising investor concerns about hidden credit risks amid high interest rates and economic uncertainty.Asian equities declined at Friday’s opening following deteriorating risk appetite on Wall Street, as loan issues at two US banks raised credit market concerns. US equity futures suggested continued weakness.Gold surged to unprecedented levels on Friday, surpassing $4,300, setting up for its strongest weekly gains in 17 years. The rise stems from increasing US-China trade conflicts creating market uncertainty, whilst prospects of US rate reductions provide additional support.Foreign portfolio investors purchased net shares valued at Rs 997 crore on Thursday. DIIs registered net purchases of Rs 4076 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)
