Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Tuesday after being pulled into red the previous trading session after Donald Trump administration hiked H-1B visa fees. While Nifty50 was above 25,200, BSE Sensex was up over 100 points. At 9:16 AM, Nifty50 was trading at 25,238.10, up 36 points or 0.14%. BSE Sensex was at 82,272.81, up 113 points or 0.14%.Market attention will now shift to Piyush Goyal’s US visit for trade negotiations, the first since the Trump administration’s 50% tariff implementation. Analysts anticipate market consolidation following recent gains, whilst monitoring these developments.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says “The major drag on the market since the 2024 September peak is the sustained FII selling, which, in turn, is being triggered by the high valuations in India and attractive valuations elsewhere. FIIs sold equity worth Rs 121210 crores in 2024 and this year, so far, FIIs have sold equity for Rs 179200 crores through the exchanges. The high valuation differential between India and other markets have enabled the FIIs to move money from India to other markets and profit from it.”“The scenario will change when India’s corporate earnings start improving. Indications of this uptrend in corporate earnings are expected to trickle in with the festival season. Already there are reports of sharp spike in bookings for automobiles.”The three major US stock indices achieved record closing highs for the third consecutive session on Monday, with technology shares leading the advance. Nvidia rose after announcing plans to invest up to $100 billion in OpenAI.Asian equities showed slight improvement at opening following Wall Street’s record-setting rally, supported by renewed confidence in technology stocks.Oil prices stayed relatively stable on Tuesday as market participants assessed the effects of ongoing Middle East and Russian conflicts, whilst concerns remained about potential demand reduction due to trade tariffs.Foreign portfolio investors purchased shares worth Rs 2,910 crore net on Monday. Domestic institutional investors were also net purchasers, investing Rs 2,582 crore.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
