Stock market today: Nifty50 opens in red; BSE Sensex near 83,400
Stock market today:
Nifty50
and
BSE Sensex
, the Indian equity benchmark indices, opened in red on Tuesday following uncertainties around trade deals and Donald Trump's reciprocal tariffs. While Nifty50 was near 25,450, BSE Sensex was down around 50 points.
At 9:17 AM, Nifty50 was trading at 25,454.10, down 7 points or 0.028%. BSE Sensex was at 83,393.56, down 49 points or 0.059%.
Market analysts anticipate range-bound trading in the immediate future, whilst noting that positive earnings visibility and robust sector performance could support selective gains during the ongoing Q1 results season.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, 'The announcement of unilateral tariffs on 14 countries and the exclusion of India from the list along with President Trump's remark that 'we are close to a deal with India' indicate that a trade deal between India and US will be announced soon.
This has already been largely discounted by the market; the unknown areas are the details of possible sectoral tariffs on segments like pharmaceuticals.
Market reaction will depend on these details.'
'The market is unlikely to break the 25200- 25500 range soon. Resilience within this range is strong. In the coming days market reaction will be stock-specific in response to the Q1 results."
Major US indices declined significantly on Monday after US President Donald Trump announced substantial tariffs on Japan, South Korea and other trading partners, whilst Tesla shares declined following Elon Musk's announcement about establishing a new US political party.
But later, Asian equities moved higher after US President Donald Trump indicated openness to further discussions following new tariff implementations on Japanese and South Korean imports.
Gold prices stabilised on Tuesday following Trump's announcement of increased tariffs on Japanese, South Korean and other nations' goods, whilst elevated US treasury yields limited advances.
Oil prices decreased on Tuesday following nearly 2% gains in the previous session, as market participants evaluated fresh US tariff developments and OPEC+'s higher-than-anticipated output increase for August.
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