Market experts anticipate the positive trend to persist, backed by favourable domestic indicators. (AI image)
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, saw a choppy start to trade on Tuesday morning. At 9:21 AM, BSE Sensex was trading at 79,319.57, down 89 points or 0.11%. Nifty50 was at 24,107.05, down 19 points or 0.077%.
Markets continued their upward trajectory for the fifth straight day on Monday, backed by robust purchasing in major stocks and consistent foreign institutional investments. Market experts anticipate the positive trend to persist, backed by favourable domestic indicators and individual stock/sector movements during the ongoing fourth quarter results season.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “During normal times the correlation between the US market, known as the mother market, and other markets is high. But these are abnormal times when the normal correlation need not hold. The US market was rattled yesterday on news of potential Trump-Powell tensions impacting the independence of the Fed. Markets abhor this. Powell has made it clear that he will be going by incoming data and evolving outlook which are now negative for the US economy.He also ruled out the possibility of a ‘Fed Put’ in a recent interview with Raghuram Rajan. Therefore, disagreement between the president and the Fed chief is likely to linger resulting in some action from the mercurial president which can lead to legal battles. This period of uncertainty is likely to witness EMs like India decoupling from the US market. Investors can focus on fundamentally sound stocks. Bank Nifty is likely to remain resilient.”
US stocks saw declines on Monday as President Donald Trump intensified his criticism of Federal Reserve Chairman Jerome Powell. This raised concerns about central bank autonomy while investors already contend with the impact of Trump’s unpredictable trade policies.
Asian equities declined at the start of trading following Trump’s intensified criticism of Powell.
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Gold maintained its record-breaking momentum on Tuesday, supported by worries over US President Donald Trump’s Fed criticism and potential economic slowdown due to trade disputes, increasing safe-haven appeal.
Oil prices increased during early Tuesday trading as investors sought to cover short positions following previous losses, despite ongoing concerns about economic challenges from tariffs and US monetary policies affecting fuel consumption.
FPIs became net buyers at Rs 1,970 crore on Monday, while DIIs purchased shares worth Rs 246 crore.
FIIs’ net short position decreased from Rs 83,273 crore on Thursday to Rs 77,270 crore on Monday.