Stock Market Today: BSE Sensex and Nifty50, India’s key equity benchmark indices, opened in the green on Thursday. The BSE Sensex was above 74,100, while the Nifty50 hovered near 22,500. At 9:20 am, the BSE Sensex stood at 74,151.24, up by 121 points or 0.16 per cent, and the Nifty50 was at 22,494.00, gaining 24 points or 0.10 per cent.
On Wednesday, domestic indices closed slightly lower amid increased volatility, driven by rising US trade tensions. The market may react positively to the latest retail inflation data and stronger industrial production figures. Analysts expect range-bound trading with continued volatility and shifts in sector focus.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The market will be moving in the midst of domestic tailwinds and global headwinds today. The domestic macros are highly positive. The better-than-expected decline in CPI inflation to 3.75 per cent in February has brought down inflation below the RBI’s inflation target of 4 per cent. Along with this, the surge in the IIP in January to an 8-month high of 5.01 per cent brings in a desirable growth-inflation balance. This provides the perfect macro backdrop for a rate cut by the MPC in April.”
“Under normal circumstances this macro data would have boosted the stock market where valuations are fair and even attractive in pockets. But unfortunately the global scenario is highly unfavourable with the trade war triggered by Trump getting worse. Trump’s 25 per cent tariff on steel imports to the US has been swiftly retaliated by the EU with tariffs on $28 billion of imports from the US and Canada has imposed tariffs on $20 billion US exports to Canada. China will follow suit. This global backdrop will constrain a rally in the Indian market. Investors should focus on domestic consumption themes,” he added.
Global Markets
US markets saw gains following lower-than-expected inflation data, though the rally was capped by concerns over President Trump’s growing trade disputes.
Asian markets showed positive movement on Thursday, rebounding from earlier losses after US inflation data came in below expectations.
Gold prices rose on Thursday, fueled by ongoing tariff uncertainties that strengthened demand for safe-haven assets. Additionally, the weaker-than-expected US inflation figures provided further support for precious metals, boosting expectations of potential interest rate cuts.
Foreign portfolio investors (FPIs) recorded net sales of Rs 1,628 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 1,510 crore.
FIIs’ net short position increased to Rs 1.83 lakh crore on Wednesday, up from Rs 1.78 lakh crore on Tuesday.
