Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, opened in green on Friday, the first trading day of the month. While Nifty50 rose over 100 points to cross 24,400, BSE Sensex was above 80,600. At 9:19 AM, Nifty50 was trading at 24,424.00, up 90 points or 0.37%.BSE Sensex was at 80,679.58, up 437 points or 0.55%.
Market experts anticipate range-bound trading with focus on individual stocks and sectors, primarily influenced by fourth quarter results.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “After the sharp market correction triggered by Trump’s reciprocal tariffs and the Pahalgam terror strikes, April has closed with above 4% gains in Nifty. This surprising resilience of the market has been primarily driven by the sustained FII buying for eleven trading days in a row taking the cumulative FII buying for this period to Rs 37375 crores.FII buying has been driven by weakness in the dollar and declining growth prospects in the US. Other macros like declining interest rates in India, decline in the crude price and green shoots of pickup in demand are positives for the market. The high probability of India among the five ‘allies’ of the US entering into early trade deals with the US is also a significant positive factor. However, at the current juncture of high valuations (Nifty trading at above 20 times estimated FY 26 earnings) and high India-Pak tensions, the near-term risk-reward is not in favour of high reward. Therefore, investors can play it safe by increasing the cash component in the portfolio even while remaining invested.”
US equities moved higher on Thursday, with both Dow and S&P 500 achieving their eighth consecutive positive session, supported by robust performance from technology giants Microsoft and Meta, alleviating AI investment concerns.
Asian equities showed modest gains while US index futures recovered losses on Friday following China’s announcement regarding potential trade discussions with the US.
Gold prices were heading towards their largest weekly decline in over two months on Friday, as diminishing trade conflicts reduced safe-haven appeal. Investors await the U.S. non-farm payrolls report scheduled for release later in the day.
The U.S. dollar advanced towards its third consecutive weekly rise, supported by positive developments in trade discussions with partners and stronger-than-anticipated economic data, bolstering confidence in the U.S. economy.
Foreign portfolio investors shifted to net purchases at Rs 50.57 crore on Wednesday. Domestic institutional investors acquired shares valued at Rs 1792 crore.
