Stock Market Opening: The BSE Sensex and Nifty50 started the day positively, with Sensex up by 100 points. By 9:21 AM, the Sensex slightly dipped to 76,834.46, showing a modest increase of 24 points. Nifty50 marginally decreased by 1 point, indicating a stable yet flat opening.
Economic optimism is boosting market sentiment, with domestic and US markets reaching new highs on Thursday. This positive trend is linked to falling inflation in both regions and strong domestic macroeconomic conditions. Expectations of a favourable monsoon and solid earnings forecasts are also supporting the ongoing uptrend.
In international news, the S&P 500 and Nasdaq continued their upward trajectory, recording new closing highs for the fourth consecutive day, primarily driven by gains in the technology sector. Despite mixed inflation data, the US dollar saw strength from the Federal Reserve’s hawkish updates.
Oil prices dipped early Friday, though they are poised for their first weekly gain in a month. Market participants are balancing the effects of high US interest rates with optimistic demand forecasts for oil and fuel throughout the year.
Market activity was marked by significant foreign outflows, with foreign portfolio investors net selling at Rs 3,033 crore. Conversely, domestic institutional investors also saw net sales, contributing to Rs 553 crore in outflows, reflecting caution amid positive market trends.
