Stock market today: Nifty50 opens in red; BSE Sensex below 84,950

Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, continued their slide on Thursday. While Nifty50 was just above 26,100, BSE Sensex went below the 84,950 mark. At 9:17 AM, Nifty50 was trading at 26,119.40, down 21 points or 0.082%. BSE Sensex was at 84,919.74, down 41 points or 0.049%.Indian equity markets are expected to stay range-bound in the near term, with analysts pointing to profit-taking at elevated levels even as stock-specific action continues on the back of third-quarter business updates.Global cues remained mixed overnight. In the United States, the S&P 500 closed lower on Wednesday as losses in financial heavyweights such as JPMorgan and Blackstone weighed on the index. However, gains in Nvidia and Alphabet helped the Nasdaq end higher, reflecting a rotation by investors towards artificial intelligence-linked stocks.Asian markets extended their decline for a second straight session on Thursday, with a recent record-setting rally losing momentum. Bond markets were steadier, with US Treasuries holding on to gains made during the previous session after mixed economic data from the United States.Back home, institutional activity remained divergent. Foreign portfolio investors were net sellers of equities worth Rs 1,528 crore on Wednesday, while domestic institutional investors provided support by purchasing shares worth Rs 2,889 crore, according to market data.(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)