Stock market today: Nifty50 near 25,200; BSE Sensex opens over 280 points down

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Monday. While Nifty50 was near 25,200, BSE Sensex was down over 280 points. At 9:18 AM, Nifty50 was trading at 25,200.25, down 85 points or 0.34%. BSE Sensex was at 82,216.27, down 285 points or 0.34%.LKP Securities’ Senior Technical Analyst Rupak De observed that Nifty’s emergence from consolidation maintained market optimism. “The trend continues to stay positive as it is sustaining above critical moving averages. The setup looks favorable for a further rise in the short term,” he noted, suggesting that downturns could present buying opportunities.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Stability appears to be returning to global stock markets, after the Friday sell off triggered by President Trump’s threat to impose additional 100% tariff on China, thereby reigniting the US- China trade war. The latest comments from President Trump indicate that he is chickening out as he had done many times earlier. Particularly, his remark, “don’t worry about China” indicates that the feared trade war may be averted. Recovery in US futures indicates that the market is not unduly worried about the latest developments. Chances are that this sabre rattling by the world’s two largest economies is temporary.”“Back home in India, the consistent buying by the FIIs had imparted stability to the market. During the last four trading days FIIs had bought stocks for Rs 3289 crores. The uptrend in the market has led to short covering which has helped the market to turn resilient. Domestic consumption themes which will not be impacted by the trade skirmishes are likely to witness accumulation by institutional buyers.” US equities ended their stable period on Friday, declining after President Donald Trump announced potential tariff increases on China.Asian equities showed weakness, reflecting concerns about trade relations. South Korean and Australian markets declined, whilst Hong Kong and Chinese futures indicated upcoming losses.The US dollar bounced back from an early trading decline on Monday, as market participants anticipated Washington’s potential moderation in its recent trade conflict escalation with Beijing. Oil prices regained some ground on Monday following five-month low points in the previous trading session. Investors remained optimistic about possible discussions between American and Chinese presidents, which could potentially reduce trade tensions between the world’s two biggest economies and petroleum consumers.Foreign institutional investors (FIIs) continued their positive trading streak for the fourth straight session on Friday, with equity purchases exceeding Rs 459 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)