Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Monday. While BSE Sensex was below 77,600, Nifty50 was above 23,450. At 9:17 AM, BSE Sensex was trading at 77,599.04, down 261 points or 0.34%. Nifty50 was at 23,480.40, down 80 points or 0.34%.
Indian markets showed volatility last week yet closed with slight weekly gains, influenced by various global and domestic factors. The focus will now turn to corporate earnings and upcoming economic data releases, including industrial production and inflation figures.
Market’s positive momentum is likely to continue above 23,450, with resistance at 23,700. Breaking above 23,700 could push the index towards 24,050, suggests ET’s technical analysis.
US equities declined significantly on Friday, with Treasury yields rising following mixed employment data, poor consumer confidence, and renewed trade concerns.
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The US President Donald Trump’s announcement to levy tariffs on steel and aluminium imports caused commodity currencies to decline, whilst equity markets appear set for risk aversion amidst growing trade-related concerns.
Gold prices strengthened on Monday, remaining close to the previous session’s historic peak, as investors sought safety following President Trump’s new tariff announcement, which raised fears about international trade conflicts.
Foreign portfolio investors registered net sales of Rs 470 crore on Friday, whilst domestic institutional investors purchased shares worth Rs 454 crore.
FIIs’ net short position increased to Rs 1.62 lakh crore on Friday from Rs 1.56 lakh crore on Thursday.
