Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Monday. While Nifty50 was above 24,750, BSE Sensex rose over 200 points. At 9:17 AM, Nifty50 was trading at 24,790.30, up 72 points or 0.29%. BSE Sensex was at 81,337.74, up 219 points or 0.27%.Market experts anticipate continued pressure due to international market conditions, whilst individual sector performance will be influenced by industry-specific developments.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The uncertainty stemming from the Israel-Iran conflict has created a risk-off in global markets. The safe haven buying is keeping gold firm but dollar continues to be weak. Interestingly there is no panic in equity markets. Markets will be severely impacted only if Iran closes the Strait of Hormuz triggering a huge spike in crude. This appears to be a low probability event now.” “Past experience tells us that times of uncertainty and risk-off are buying opportunities for long-term investors. The difference this time is that the risk-off has not triggered big selling in equities making their valuations attractive. The market scenario characterised by sustained retail buying and fund flows into mutual funds will ensure valuations remaining high for an extended period of time. Therefore, long-term investors can use this risk-off scenario to buy relatively attractively valued stocks like financials.“Asian stock exchanges began Monday trading on a positive note, recovering partially from Friday’s losses. Oil prices increased amidst ongoing tensions between Israel and Iran.Gold prices advanced on Monday, approaching a two-month peak as investors gravitated towards safe-haven assets amidst heightened tensions between Israel and Iran, raising concerns about a wider regional conflict.Oil prices increased during early Asian trading hours on Monday following reciprocal attacks between Israel and Iran on Sunday, raising concerns about potential disruptions to Middle Eastern oil exports and a possible wider regional conflict.Foreign portfolio investors sold shares worth Rs 1,263 crore net on Friday, whilst domestic institutional investors were net purchasers at Rs 3,041 crore.FIIs’ position in futures market expanded from a net short of Rs 99,478 crore on Thursday to Rs 1.04 lakh crore on Friday.(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)
