Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, tanked in opening trade on Monday before recovering a bit. While BSE Sensex fell over 600 points, Nifty50 went below 22,750. At 9:22 AM, BSE Sensex was trading at 75,683.34, down 256 points or 0.34%. Nifty50 was at 22,863.85, down 65 points or 0.29%.
Last week, markets entered a correction phase following two weeks of gains, dropping approximately two and a half percent. The overall mood remained subdued throughout the previous week due to continuous FII selling, varied corporate performance reports, and ongoing global trade tariff concerns.
As the corporate results season concludes, investors will now focus on FII flow patterns and currency movements for direction. Furthermore, discussions about US tariffs and their effects on worldwide trade will continue to be significant factors for consideration.
The domestic share market is expected to respond to the discussions between Modi and Trump, along with the final set of Q3 financial results scheduled for release today.
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According to Nagaraj Shetti of HDFC Securities, if Nifty decisively breaks below 22,800 support levels, it could reach around 22,450 levels (20-month EMA) in the near term. The immediate resistance stands at 23,250.
US stocks finished mixed on Friday, with Nvidia advancing whilst Microsoft declined. Treasury yields decreased following US President Donald Trump’s announcement of reciprocal tariff plans, though he refrained from implementing new ones.
Asian equities displayed mixed movements as investors weigh growing US-EU tensions and upcoming central bank policy announcements.
Gold prices showed modest gains on Monday, following a previous session decline exceeding 1%, as investors await clarity on U.S. President Donald Trump’s reciprocal tariff proposals, which could intensify global trade disputes.
FPIs registered net sales of Rs 4,294 crore on Friday, while DIIs recorded purchases worth Rs 4364 crore.
FIIs’ net short position decreased from Rs 1.83 lakh crore on Thursday to Rs 1.89 lakh crore on Friday.
