Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Tuesday. While Nifty50 went above 25,100, BSE Sensex was up over 150 points. At 9:26 AM, Nifty50 was trading at 25,123.10, up 32 points or 0.13%. BSE Sensex was trading at 82,352.59, up 152 points or 0.19%.The focus remains on trade negotiations in the weeks ahead, with India and the US working towards reaching an agreement before August 1.Market observers anticipate sideways movement, with attention on quarterly results and progress in India-US trade negotiations.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “There is an undercurrent of resilience in the market despite the elevated valuations. This is evident in the market’s response to positive news like yesterday’s positive response to the good Q1 numbers from ICICI Bank, HDFC Bank and Eternal. There are two factors that are providing this resilience to the market. One, the mother market US is bullish with the S&P having set new records ten times this year. This bullishness is providing psychological support to the bulls. Two, the liquidity support to the market continues unabated. DIIs, flush with funds, have been buyers in 14 out of the 15 trading days this month. This has more than neutralised the FII selling in 10 out of the 15 trading days of the month. This trend in the institutional activity is significant.” “An area of concern in the near-term is the uncertainty regarding an interim trade deal between US and India. If India doesn’t get a favourable deal with tariffs below 20 percent that would be a short-term negative from the market perspective.”The S&P 500 and Nasdaq reached new closing highs on Monday, boosted by Alphabet and other large-cap stocks ahead of this week’s earnings reports, whilst investors remained optimistic about potential trade agreements to reduce economic impact from global tariffs.Asian equities advanced as US markets reached new highs before a significant Oil prices decreased on Tuesday, reflecting worries about reduced fuel demand growth. The ongoing trade tensions between major oil consumers, the US and European Union, raised concerns about diminished economic activity.Foreign portfolio investors sold shares worth Rs 1,681 crore on Monday, whilst domestic institutional investors purchased Rs 3,578 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)
