Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmarks, opened flat in trade on Monday, a day after 2% crash on Budget’s hike in STT on futures and options. While Nifty50 went below 24,800, BSE Sensex was down over 100 points. At 9:16 AM, Nifty50 was trading at 24,761.65, down 64 points or 0.26%. BSE Sensex was at 80,619.16, down 104 points or 0.13%.After yesterday’s steep fall, market analysts see limited downside risks for Indian equities following the Union Budget for FY27. The benchmark Nifty fell about 2 percent on Budget Day, but market experts now see downside from current levels capped at around 1 to 2 percent.“A reversal of the recent correction, however, is heavily dependent on the arrest of the weakness in the rupee. The recent gold price crash, to that extent, is good news as would be an early conclusion of the India-US trade deal,” Emkay Global said.Asian stocks declined on Monday, while precious metals extended their losses, reflecting fragile investor sentiment after a volatile close on Wall Street last week. The Japanese yen also weakened in currency trade.Meanwhile, oil prices dropped nearly 3 percent on Monday after US President Donald Trump said over the weekend that Iran was “seriously talking” with Washington. The comments signaled possible de-escalation with the OPEC member after concerns over a potential military strike had pushed crude prices to multi-month highs.In the commodities market, gold continued to slide on Monday, weighed down by a stronger US dollar, as investors assessed the policy stance of Kevin Warsh, President Trump’s nominee for Federal Reserve chair, particularly his views on interest rate cuts. Silver, however, staged a partial recovery after hitting a more than three-week low on Friday.(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)
