Market Overview

Today, the Indian stock market witnessed a cautious opening with the BSE Sensex and Nifty50 showing minor declines. The BSE Sensex was observed below 77,300, while the Nifty50 hovered near 23,350. This movement comes amidst a backdrop of global market turbulence and domestic economic indicators.

Expert Insights

According to Siddhartha Khemka, Head of Research at Wealth Management, Motilal Oswal, the market's attention is shifting towards the final leg of Q3 earnings, corporate guidance, and global macroeconomic factors. Jatin Gedia from Mirae Asset Sharekhan highlighted a positive crossover in the daily momentum indicator, suggesting a potential buying opportunity.

Global Influences

The announcement of reciprocal tariffs by Donald Trump has added to the market's cautious stance. Meanwhile, US stock indices saw a rise, supported by gains in Nvidia and other AI-related stocks, along with increases in steel manufacturers' shares following the new tariffs.

Investor Activity

Foreign portfolio investors recorded net sales, while domestic institutional investors showed net purchases, indicating a mixed sentiment among investors. The increase in FIIs' net short position further underscores the market's cautious outlook.