Analysts anticipate continued positive movement on Friday, driven by supportive monetary policies, good monsoon predictions and increased festive season demand. (AI image)

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Friday. While Nifty50 was below 24,800, BSE Sensex was down over 170 points. At 9:17 AM, Nifty50 was trading at 24,775.70, down 61 points or 0.24%. BSE Sensex was at 80,808.71, down 175 points or 0.22%.Analysts anticipate continued positive movement on Friday, driven by supportive monetary policies, good monsoon predictions and increased festive season demand.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The positive impact of the central bank’s bold initiatives to boost credit growth in the economy has the potential to sustain the momentum in the market, particularly in Bank Nifty. But this momentum is unlikely to sustain in the context of the sustained FII selling in the market. FIIs are likely to further accelerate selling since the market construct provides them the opportunity to sell aggressively. The huge short position in the market indicates that the bulls will be on the defensive. Aggressive DII buying can provide some support to the market particularly in largecap auto stocks, which have strong fundamental support now.”“The central bank initiatives to accelerate credit flow into the economy will be positive for banks. The stronger banks will gain not only from higher credit growth but also from lower premium for deposit insurance. The fairly valued largecap banks are attractive buys from a medium to long-term perspective. Auto stocks will continue to be resilient backed by positive news of large orders and sharp increase in sales.“The three main US indices achieved record closing highs on Thursday with modest gains, primarily supported by technology stocks, whilst investors carefully observed private employment data during the second day of US government shutdown.Asian equities showed slight gains at opening after AI-driven optimism pushed global markets to record levels.Oil prices showed a modest increase on Friday following four consecutive sessions of losses. However, they remained poised for their largest weekly drop since late June, as markets anticipate potential increased output from OPEC+ despite concerns about oversupply.On Wednesday, foreign portfolio investors were net sellers, offloading shares worth Rs 1,605 crore. In contrast, domestic institutional investors showed positive activity with net purchases of Rs 2,916 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)