Stock market today: Nifty50 opens above 25,850; BSE Sensex up over 200 points

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Monday on positive global cues. While Nifty50 was above 25,850, BSE Sensex was up over 200 points. At 9:17 AM, Nifty50 was trading at 25,865.95, up 71 points or 0.27%. BSE Sensex was at 84,439.21, up 227 points or 0.27%.Market experts are of the view that Indian equities may trade within a range, influenced by global factors, Q2 results and economic indicators. Whilst foreign institutional investor inflows and positive management outlooks may support market sentiment, occasional profit-taking remains a possibility.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The global market construct is bullish. With Dow Jones, Nikkei and Kospi at record highs the sentiments are positive. Globally, there are signals of declining trade tensions. Comments from the US treasury Secretary Scot Bessent that there is a “substantial framework for trade negotiations with China” indicate that a US-China trade deal is on the cards.” “For India, the fundamentals are also turning positive with brisk festival season sales and reports of a smart pick up in capital spending by the private sector. This long awaited trend has significant positive implications for India’s growth and stock market. Conditions are favourable for the Nifty and Sensex to climb to record highs. An important feature of the ongoing rally in the market is its correlation with short covering. This trend has some more way to go.”Last week, the S&P 500 and Nasdaq saw their best weekly performance since August. Dow achieved its largest weekly gain since June.In Asian stock markets, the indications of an imminent US-China trade agreement sparked widespread market optimism – boosting stocks, oil, copper and China-linked currencies including the Australian dollar, whilst Treasuries and gold declined.Crude oil prices increased during early trading hours on Monday, following positive developments in trade discussions between US and Chinese representatives. Foreign portfolio investors purchased shares worth Rs 621 crore net on Friday, while domestic institutional investors recorded net buying of Rs 173 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)