Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Wednesday. While Nifty50 was near 25,600, BSE Sensex moved up over 200 points. At 9:17 AM, Nifty50 was trading at 25,597.80, up 56 points or 0.22%. BSE Sensex was at 83,897.51, up 200 points or 0.24%.Market experts indicate a positive outlook, citing robust institutional investment flows and supportive policy measures.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “After breaking the 24500-25000 range Nifty has moved to the new range of 25200-25800. Positive news about a possible trade deal between India and US can help break the upper limit of the range but it would be difficult to sustain the Nifty at higher levels for long. There are no indications yet of a strong rebound in earnings. GST collections data for June indicates sluggish growth. Auto sales numbers for June also indicates subdued sales. In brief, there is no room for the market to sustain the upward momentum given the high valuations. A surprise element is the resilience of the US economy and corporate earnings, which in turn is imparting resilience to the US market, despite the tariffs. How long this resilience will hold remains to be seen. The Fed chief Jerome Powell has indicated that there is no room for a rate cut immediately. This will rein-in the enthusiasm of the bulls.”The Nasdaq and S&P 500 declined on Tuesday, affected by weakness in major technology stocks, whilst the Dow advanced during a session characterised by seasonal thin trading volumes.Asian equities started lower after President Donald Trump maintained his stance on the July 9 deadline for implementing higher tariffs on trading partners.Gold prices remained stable on Wednesday as market participants awaited US payroll data and considered Federal Reserve Chair Jerome Powell’s prudent position on rate cuts. Support came from a weakened dollar and the approval of a US tax-and-spending legislation.(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)
