According to market experts, the key support levels are at 25,800 and 25,700, with potential for further decline if these levels are breached. (AI image)
Stock market today:Nifty50andBSE Sensex, the Indian equity benchmark indices, opened flat in trade on Friday on mixed global cues. While Nifty50 was near 25,850, BSE Sensex was below 84,400. At 9:20 AM, Nifty50 was trading at 25,856.90, down 21 points or 0.81%.BSE Sensex was at 84,379.84, down 25 points or 0.029%.According to market experts, the key support levels are at 25,800 and 25,700, with potential for further decline if these levels are breached.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The Trump-Xi summit delivered only a one-year truce in the US-China trade war, not a breakthrough trade deal. To that extent market participants were disappointed at the outcome even though there is relief in the declining trade tensions and possible movement towards further progress.” “The rally in the Indian market has been running out of steam when it approaches the record high of 26277 set in September 2024. Renewed selling by FIIs is likely to be a drag on the market in the near-term. The increasing short positions being created by FIIs indicate that they view Indian valuations as relatively higher particularly seen in the light of earnings growth. This view will change only when leading indicators suggest a sustained recovery in earnings.”“Meanwhile long-term investors can slowly accumulate fairly-valued growth stocks. India’s recently announced grand maritime strategy entails massive expenditure on shipping. Ship building stocks have great potential for long-term growth.”US stocks dropped on Thursday, with significant losses in the Nasdaq Composite and S&P 500. The decline was primarily driven by Meta and Microsoft share price drops due to concerns about increased AI expenditure, alongside investors processing the Federal Reserve’s more stringent stance.Asian shares and US equity-index futures advanced following robust earnings reports from Apple Inc. and Microsoft Inc., which triggered a post-market technology sector rally.Oil prices dipped on Friday, moving towards a third consecutive monthly reduction, as strengthening dollar restricted commodity gains, while increased production from major global suppliers counterbalanced the effects of Western restrictions on Russian exports.Foreign portfolio investors sold shares worth Rs 3,077 crore net on Thursday. Domestic institutional investors were net purchasers at Rs 2,469 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
