Sensex gains over 170 points, Nifty50 crosses 24,600 mark
What's the story
Indian stock indices opened on a positive note today, with the BSE Sensex surging over 170 points and the Nifty50 crossing the 24,600 mark. At around 9:18am Sensex was trading at 80,771.61, up by some 172 points or nearly 0.21%. Meanwhile, Nifty50 was at a value of around 24,627.85, up by some 63 points or nearly 0.25%.
Expert advice
Market experts advise defensive stance amid mixed global cues
Despite the positive opening, market experts are still cautious. They advise investors to stay defensive with a bearish outlook until clear signs of reversal emerge. This comes as individual stock movements are likely to continue, with more companies announcing their quarterly results. The global market sentiment is also mixed due to weak US jobs data and new tariffs affecting Wall Street last week.
Market reaction
Asian stocks react to US jobs data and tariff impacts
Asian stocks were volatile today as they reacted to weak US jobs data and new tariffs imposed last week. This has led experts to recommend a cautious approach, as changes in US policy and corporate earnings could further impact the market. Gold prices fell after recent gains, while oil prices also slipped following OPEC+'s decision for more supply.
Information
FPIs sold shares worth ₹3,366 crore on Friday
In terms of investor activity, foreign portfolio investors (FPIs) sold shares worth ₹3,366 crore on Friday. However, domestic institutional investors (DIIs) were net buyers at ₹3,187 crore. This shows a shift in market dynamics with FPIs taking a backseat while DIIs are stepping up.