Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Wednesday. While Nifty50 went above 26,000, BSE Sensex was up around 300 points. At 9:16 AM, Nifty50 was trading at 26,013.30, up 77 points or 0.30%. BSE Sensex was at 84,910.64, up 282 points or 0.33%.Analysts maintain a positive market outlook, considering favorable global indicators, economic data and domestic second quarter performance reports.The US Federal Reserve’s FOMC meeting outcome on Wednesday, with anticipated 25 basis points interest rate reduction, remains a key focus for investors.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Globally stock markets continue to be bullish aided by the sustained uptrend in the mother market US where AI related deals and news are driving tech stocks up. Today the market is likely to get another positive news from the Fed which is expected to cut rates by 25 bp. More important than the rate decision will be the Fed commentary on quantitative tightening., “Nifty’s gain of 1300 points in the October series has strengthened the mildly bullish undertone of the market. This has the potential to continue in November helping the Nifty reach an all time high soon. The fairly-valued Nifty Bankex is well placed to lead the rally in the market. Strong and steady large cap bluechips like Bharti Airtel, RIL and L&T can lend support to the Nifty.”US stock markets saw record closing highs on Tuesday with Nvidia shares gaining after announcing AI supercomputer development for the US energy department. Investor sentiment remained positive ahead of significant megacap results. Asian stocks opened higher, supported by Wall Street’s AI-driven technology sector optimism and increased expectations of Federal Reserve rate reductions.(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)
