Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened flat in trade on Wednesday. While Nifty50 was below 25,900, BSE Sensex was near 84,600. At 9:18 AM, Nifty50 was at 25,886.35, down 24 points or 0.091%. BSE Sensex was at 84,638.51, down 35 points or 0.041%.The likelihood of a US Federal Reserve rate reduction in December has reduced, affecting market sentiment. Analysts indicate that developments in Indo-US trade negotiations and improving domestic corporate performance could restore market confidence and help the Nifty index surpass 26,000.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “An anti-AI trade is playing out in global markets now. Respected experts like Google CEO Sundar Pichai are voicing concerns about the irrationality in AI trade. Nasdaq is down 1526 points from the recent peak. Even though there are optimists who still bet on AI trade, there are concerns of a bubble formation in AI stocks. The steady decline in AI stocks, without a major crash, is good for India. FPIs are likely to start buying in India if the current trend of AI trade fading sustains for some more time. India’s outperformance vis-a-vis other AI markets like South Korea and Taiwan during the last few days is an indication of this trend.” “Investors should prioritize safety at this juncture. Safety is in large caps. Large segments of the mid and small cap space are overvalued having been driven up only by liquidity flows from exuberant investors.”US stocks declined on Tuesday, with the S&P 500 recording its fourth consecutive negative session as technology shares faced valuation concerns and Home Depot’s disappointing outlook affected sentiment.Asian stocks fluctuated modestly as investors assessed the impact of global equity declines, with focus on regional market stability following Wall Street’s significant losses.On Tuesday, foreign portfolio investors were net sellers, offloading shares valued at Rs 729 crore. In contrast, domestic institutional investors emerged as net buyers, purchasing shares worth Rs 6157 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
