On Thursday morning, the Indian stock market started on a positive note. The Nifty50 index opened above 24,600 and the BSE Sensex was close to 80,600 points.
At 9:33 AM,
- Nifty50 was at 24,619.65, slightly higher than yesterday.
- Sensex was at 80,589.58, up by 50 points (0.062%).
What Experts Are Saying
Market experts believe the market will likely move within a limited range. Investors are being cautious because of two key events:
- US tariffs concerns
- US-Russia peace talks scheduled for Friday
According to Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments:
- The market is in a “wait and watch” mode, looking for important updates from the Trump-Putin meeting and PM Modi’s Independence Day speech.
- Technically, the market is oversold and many traders are holding short positions. Any good news could trigger buying and push the market higher.
He also noted:
- Strong banking stocks have fallen in the past month.
- Mid and small-cap stocks are still holding strong despite being expensive.
- Long-term investors should consider shifting money from overvalued mid and small caps to safer, high-quality large caps.
Global Market Trends
- US markets closed higher on Wednesday:
- S&P 500 rose 0.3% to a new record.
- Dow Jones jumped 463 points (1%).
- Nasdaq inched up 0.1% to a fresh high.
- Asian markets opened mixed on Thursday after three days of gains, as investors expect the US Federal Reserve to cut interest rates next month.
- Oil prices went up on Thursday, recovering from Wednesday’s fall, as markets remain cautious ahead of the Trump-Putin meeting.
Foreign & Domestic Investment
- Foreign investors sold shares worth ₹3,644 crore on Wednesday.
- Domestic institutional investors bought shares worth ₹5,624 crore.
