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Indian benchmark indices BSE Sensex and Nifty50 opened on a positive note on Tuesday, despite mixed global cues
Stock Market Outlook
Sensex Today: Indian benchmark equity indices BSE Sensex and Nifty50 were trading on a muted note, in range-bound trading on Tuesday, amid mixed global cues.
At 12 PM, the BSE Sensex was higher by 23.57 points, or 0.03 per cent, at 80,241.94, and the Nifty 50 was at 24,311.15, lower by 17.35 points, or 0.07 per cent.
‘Sustained FII buying is a strong pillar of support for the market now’
“The Sensex did a Vaibhav Suryavanshi yesterday with a 1005 point spectacular rally amidst the heightened tensions on the border. What message is the market sending? The market has discounted, as everyone else has, that there will be an appropriate response from India to the terrorist attacks, but the market hopes that tensions will not lead to a war which can have very bad consequences. The strong pillar of support for the market now is the sustained FII buying for nine days in a row for a cumulative amount of Rs 34,940 crores. India’s potential relative outperformance compared to other large economies can support the FII inflows and impart resilience to the market. The US treasury secretary Scott Bessent’s remark yesterday that “ I would guess that India would be one of the first trade deals we would sign” is a big positive for India. However, investors should exercise caution in the near-term in the context of the high uncertainty regarding the fallout from the border tensions.”
Views By: Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
Global Cues
The S&P 500 ended a volatile session on Monday virtually flat, pressured by declines in megacap stocks as investors looked ahead to key economic data and major corporate earnings.
Notably, Nvidia fell 2.1% and Amazon slipped 0.7%, weighing on both the S&P 500 and keeping the Nasdaq in the red.
As of 9:36 a.m. Tokyo time, S&P 500 futures were largely flat, showing little change, while Euro Stoxx 50 futures also held steady. In the Asia-Pacific region, Hang Seng futures edged up 0.1%, and Australia’s S&P/ASX 200 gained 0.5%, indicating a cautiously positive start to the trading day.