Stock market today: Nifty50 opens above 25,800; BSE Sensex rallies over 500 points

Stock market today: Indian equity benchmarks, Nifty50 and BSE Sensex, opened in green on Monday, rallying strongly on the back of India-US trade deal joint statement issued over the weekend, and US President Donald Trump’s executive order revoking 25% penal tariffs. While Nifty50 went above 25,800, BSE Sensex was up over 500 points in opening trade. At 9:18 AM, Nifty50 was trading at 25,819.00, up 125 points or 0.49%. BSE Sensex was at 83,994.31, up 414 points or 0.50%.Market analysts are of the view that the stock market could remain range-bound in the near term with stock-specific movements driven by earnings outcomes amid persistent global uncertainties.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “There are tailwinds that can take the market higher in the near-term. Clarity on the US-India trade deal indicates that the Indian businesses, particularly exporters, will benefit. More importantly, the uncertainty over the trade deal and its impact on the Indian economy, which was weighing on the market, has been removed. The rebound in the US market and the cues from other markets indicate another phase of risk on. A big positive for the market is that FIIs who were sustained sellers in the market have bought in the cash market in three out of the last four trading days. The fact that the derivatives market continues to be heavily net short might impart resilience to the market, on expectations of short covering. Coming to sectoral moves, the ‘Anthropic shock’ will continue to impact sentiments in the IT sector. On the contrary, banking stocks are likely to gather strength on news of improving credit growth, which will have positive fall out for GDP growth and corporate earnings in FY27.“Asian markets opened higher on Monday, tracking gains on Wall Street after a volatile week marked by concerns over elevated valuations in technology stocksThe positive start in Asian equities followed a strong finish in US markets on Friday, where the Dow Jones Industrial Average crossed the historic 50,000 mark. The S&P 500 also ended significantly higher, supported by strong advances in Nvidia and other semiconductor companies. However, shares of Amazon declined after the company signalled a sharp increase in spending on artificial intelligence infrastructure.Gold and silver prices continued their upward momentum as the dollar weakened. Investor attention is now focused on an upcoming US labour market report later this week, which is expected to provide further clarity on the direction of interest rate decisions by the US Federal Reserve.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)