Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, soared in opening trade on Diwali day. While Nifty50 went above 25,900, BSE Sensex was up over 600 points. At 9:16 AM, Nifty50 was trading at 25,903.40, up 194 points or 0.75%. BSE Sensex was at 84,591.13, up 639 points or 0.76%.Going forward, market experts indicate that Indian stocks’ direction will be influenced by current corporate results and policy decisions from key global central banks. India-US trade deal talks will also influence sentiment.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The momentum in the market, triggered by sustained huge DII buying, marginal FII buying, news of brisk festival season sales of automobiles and white goods, is set to continue with more positive news. The early Q2 results indicate a sharp recovery in earnings. Results of HDFC Bank and RIL are particularly impressive. The good results of HDFC Bank, particularly the improving asset quality, can sustain the momentum in Bank Nifty, which is already at record highs.” “The short-covering in the last few days is likely to continue, pushing the largecaps higher. The big concern in the market, which has been the poor earnings growth, is getting addressed now. The market is on track to set new highs soon. Sectors with tailwinds of growth are likely to outperform.”US markets ended higher on Friday as investors assessed President Donald Trump’s recent statements regarding China and responded positively to regional banks’ quarterly performances, which alleviated credit risk concerns.Asian equities started positively on Monday after two weeks of decline, with improved trade relations between major economies enhancing investor confidence.Oil prices fell on Monday due to concerns about oversupply, whilst increasing US-China trade tensions contributed to worries about economic deceleration and reduced energy consumption.Foreign portfolio investors purchased shares worth Rs 309 crore net on Friday. Domestic institutional investors were net buyers with Rs 1,527 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)
