Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Thursday. While Nifty50 was above 24,600, BSE Sensex was near 80,600. At 9:33 AM, Nifty50 was trading at 24,619.65, up marginally. BSE Sensex was at 80,589.58, up 50 points or 0.062%.Analysts anticipate the market to remain range-bound, with domestic-facing themes expected to prevail amid caution over US tariffs and the forthcoming US-Russia peace talks scheduled for Friday.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited said, “The market will be in a wait and watch mode looking for clues from the Trump-Putin summit and PM Modi’s Independence Day message. From the technical perspective, the market is oversold and short-positions are high. Any positive news which triggers short covering can lead to a rally. We will have to wait and watch.” “Fundamentally strong banking stocks have drifted down in the last one month while mid and smallcaps with elevated valuations continue to remain resilient. This a liquidity driven short-term aberration. Long-term investors can exploit this value discrepancy by moving away from highly valued mid and smallcaps to the safety of high quality largecaps.”US equity indices edged higher on Wednesday, extending a global rally driven by expectations of lower interest rates. The S&P 500 gained 0.3% to reach another record high, the Dow Jones surged 463 points (1%), and the Nasdaq inched up 0.1% to a fresh peak.Asian stocks trading within a narrow range at Thursday’s open, easing after three days of gains propelled by bets on a Federal Reserve rate cut next month.Oil prices increased on Thursday, recovering after a decline in the previous session. The upcoming meeting between US President Donald Trump and Russian President Vladimir Putin has heightened market risk premiums. Foreign portfolio investors sold shares worth Rs 3,644 crore on Wednesday, while domestic institutional investors were net buyers, purchasing shares worth Rs 5,624 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)
