Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Thursday on weak global cues. While Nifty50 went below 26,000, BSE Sensex was down over 200 points. At 9:21 AM, Nifty50 was trading at 25,984.25, down 70 points or 0.27%. BSE Sensex was at 84,776.87, down 220 points or 0.26%.Market analysts are of the view that positive factors including trade and tariff related developments, Q2 corporate results and continuous FII investments are likely to support market sentiment in the near future.Anand James, Chief Market Strategist, Geojit Investments Limited says, “Yesterday’s momentum eased off on approaching recent peaks. Oscillators also appear reluctant. However, the presence of bullish continuation patterns encourages us to stay with the 26186-250 view. Dips to 25990 are expected to find buying interest. Downside marker may be placed near 25886.”The Dow declined whilst the S&P 500 remained flat on Wednesday following the Federal Reserve’s rate reduction, with Powell indicating uncertainty about a December rate cut. The Nasdaq achieved a new closing record, supported by Nvidia, which became the first company to achieve a $5 trillion market capitalization.Asian markets saw mixed performance after Federal Reserve Chairman Powell’s cautious stance on future rate cuts.Gold prices increased moderately on Thursday, supported by a minor decline in the dollar.Foreign portfolio investors sold shares worth Rs 2,540 crore net on Wednesday. Domestic institutional investors were net purchasers at Rs 5,693 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)
