Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Friday following days of rally. While Nifty50 was still above 25,000, BSE Sensex dropped over 100 points. At 9:16 AM, Nifty50 was trading at 25,048.00, down 36 points or 0.14%. BSE Sensex was at 81,886.36, down 114 points or 0.14%.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The headwinds for the market from Trump tariffs will weigh on markets constraining the rally of the last 6 days. If the penal tariff of 25% kicks in on August, and this appears likely, the impact on India’s growth will be not be 20 to 30 bp estimated with 25% reciprocal tariffs, but more. The market will have to discount that.”“A significant trend in the market is the outperformance of largecaps, which is desirable and fundamentally justified. While Nifty is up by 1% during the last one year, Nifty Midcap 150 is down by 0.35% and Nifty Smallcap 250 is down by 4.7 % during the same period. This trend is fundamentally justified and likely to continue. Midcap IT is showing resilience now. Investors should focus on valuations now.”US markets declined on Thursday as investors remained cautious ahead of the Federal Reserve chair’s speech on Friday. Walmart’s quarterly results also influenced market sentiment negatively.Asian markets demonstrated narrow range movement following US market declines, as traders reconsidered expectations of Federal Reserve rate reductions.Gold prices maintained stability on Friday as traders remained cautious before US Federal Reserve Chair Jerome Powell’s address at the Jackson Hole symposium, which could provide new insights into future monetary policy decisions.Foreign portfolio investors purchased shares worth Rs 1,246 crore net on Thursday. Domestic institutional investors were net purchasers at Rs 2,546 crore.(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)
