Market Opens on a Choppy Note

Today, the Indian equity benchmark indices, Nifty50 and BSE Sensex, started trade on a choppy note. Nifty50 was near 24,650, while BSE Sensex hovered below 81,300.

At 9:16 AM, Nifty50 was trading at 24,654.25, down 13 points or 0.051%. BSE Sensex was at 81,295.03, down 36 points or 0.044%.

Market experts anticipate continued positive trends in Indian markets, backed by reduced geopolitical risks, developments in trade deals, and strengthening macroeconomic indicators.

Expert Insights

VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, says, "The market appears to be heading for a near-term consolidation phase with the mid and smallcaps outperforming."

He also mentioned the possibility of a 'Sell India; Buy China' tactical FII trade, which could weigh on largecaps and strengthen the case for further rally in mid and smallcaps, despite valuation concerns.

Global Market Trends

US markets showed mixed results, while Asian markets retreated on Thursday, breaking a four-session winning streak. Oil prices dropped, and gold prices increased slightly as traders awaited clearer economic indicators.

Investment Trends

Foreign portfolio investors purchased shares worth Rs 932 crore net on Wednesday, with domestic institutional investors net purchasers at Rs 316 crore.