Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, tanked sharply after opening in green on Friday. While BSE Sensex dipped over 600 points, Nifty50 went below 24,000. At 10:15 AM, BSE Sensex was trading at 79,181.60, down 620 points or 0.78%.Nifty50 was at 24,040.35, down 206 points or 0.85%.
Indian equities paused after seven consecutive days of gains, with Nifty and Sensex ending in red on Thursday as investors adopted a cautious stance amidst varied global indicators. The market’s future trajectory will likely be influenced by international market signals and fourth-quarter corporate performance reports.
US stocks advanced on Thursday, marking three consecutive days of gains, supported by technology sector strength as investors evaluated mixed corporate results and monitored US-China trade discussions.
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Asian equities started higher on Friday, following US market optimism about earlier Federal Reserve rate cuts and positive earnings from Alphabet Inc.
Gold prices climbed on Friday, poised for their third straight weekly increase, as market participants keenly observed the progress in trade talks between the U.S. and China.
Oil prices increased slightly on Friday but remained set for weekly declines, as potential higher OPEC+ production and prospects of Russia-Ukraine peace talks could boost supply, whilst uncertain U.S. tariff positions affect demand forecasts.
Foreign portfolio investors shifted to net purchases of Rs 8,250 crore on Thursday, whilst domestic institutional investors offloaded shares worth Rs 534 crore.
FIIs’ net short position decreased to Rs 24,480 crore on Thursday from Rs 70,771 crore on Wednesday.
