Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Wednesday. While Nifty50 was below 24,850, BSE Sensex was down over 100 points. At 9:16 AM, Nifty50 was trading at 24,824.65, down 29 points or 0.12%. BSE Sensex was at 81,472.53, down 111 points or 0.14%.Future market movements will likely be influenced by international factors, with expected fluctuations around central bank decisions and geopolitical events.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Latest tweet by President Trump and the US defence movements in West Asia signal aggravation of the conflict. However, there is no panic in global equity markets and it appears that the markets’ assessment is that this conflict will end soon without impacting the global economy.”“It is important to understand that after the Covid crash which took the Nifty to a low of 7511 in March 2020 we are in a bull market which has been climbing all walls of worries. The market is likely to climb this Israel-Iran conflict worry, too. Despite the high valuations, particularly in the broader market, the market is likely to remain resilient supported by sustaining strong liquidity and hopes of turn around in earnings. The 24500-25000 range will hold in the near-term and is likely to be broken on the upside when positive news relating to the West Asian conflict comes. Buy on dips strategy will continue to work.”US stocks declined on Tuesday as tensions between Israel and Iran persisted for the fifth consecutive day, maintaining investor concerns, whilst the US deployed additional military aircraft to the Middle East.Oil prices increased whilst most Asian equities followed Wall Street’s downward trend as worries increased about potential US involvement in escalating Middle East tensions.Gold prices remained stable on Wednesday amid ongoing Israel-Iran tensions in their sixth day of conflict. However, gains were limited by a firmer dollar as markets awaited the US Federal Reserve’s policy announcement.Oil prices increased during early Wednesday trading, following a more than 4% rise in the previous session due to concerns about potential supply disruptions from the Iran-Israel conflict.Foreign portfolio investors sold shares worth Rs 1,483 crore net on Tuesday, whilst domestic institutional investors made net purchases of Rs 8,207 crore.FIIs’ position in futures market decreased from Rs 1.01 lakh crore net short on Monday to Rs 99,483 crore net short on Tuesday.(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)
