Market Opens in Red Amid Earnings Season

Indian equity benchmark indices, Nifty50 and BSE Sensex, opened lower on Friday, with Nifty50 dropping below the 25,000 mark and BSE Sensex losing over 300 points. By 9:16 AM, Nifty50 was trading at 24,944.60, down 118 points or 0.47%, while BSE Sensex stood at 81,847.90, down 336 points or 0.41%.

Expert Insights on Market Movements

Market experts predict that Indian markets will trade within a defined range, influenced by first-quarter earnings results. Trading activity is expected to focus on individual stocks as more companies release their quarterly performance figures.

Impact of India-UK FTA

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, highlights the significance of the India-UK Free Trade Agreement (FTA) for the market. He notes that this FTA, India’s first with a major developed country, could boost trade and project India as committed to free trade. Sectors like textiles, leather, and pharmaceuticals are expected to benefit.

Global Market Influences

The S&P 500 and Nasdaq reached record levels, driven by Alphabet's strong performance, while Tesla shares fell. Asian equities started lower, and precious metals like gold saw modest gains. Crude oil prices advanced amid positive trade sentiment.

Investment Trends

Foreign portfolio investors were net sellers, while domestic institutional investors were net buyers, reflecting ongoing market adjustments.