Stock market today: Nifty50 opens below 25,200; BSE Sensex down over 200 points

Stock market today (AI image)

Stock market today: Weighed down by weak global cues, Indian equity benchmarks Nifty50 and BSE Sensex, opened in red on Wednesday after over 1% declines in the Tuesday session. While Nifty50 was below 25,200, BSE Sensex dropped over 200 points. At 9:16 AM, Nifty50 was trading at 25,192.65, down 40 points or 0.16%. BSE Sensex was at 82,019.84, down 161 points or 0.20%.Market analysts see scope for a short-term technical rebound and they are of the view that even though the intraday market texture is weak, it is at present oversold. In that sense, a pullback rally may be on the cards, they say.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “There is risk-off sentiment in global markets now in response to Trump’s Greenland policy, the threatened tariffs on eight European countries and Europe’s hardening anti-Trump stance. Globally stock markets are down and the flight to the safety of gold is up. There is no clarity on how the situation will evolve. If the threatened tariffs come into effect, Europe will retaliate and this will lead to a trade war with bad consequences for global trade and global growth. If such a scenario plays out stock markets will witness further selling.” “On the other hand, if Trump chickens out as he had done in the past, or succumbs to pressure, markets will rebound. A combined and united Europe has many options like the much talked about ‘Sell America’ wherein they sell US treasuries leading to sharp fall in dollar. This will hurt Trump. Public opinion in the US is also against Trump’s Greenland annexation plan. Many unexpected developments can happen and the market is likely to react strongly to the developments. Investors can watch and wait for normalcy and stability to return. Fairly-valued largecap stocks, particularly in banking, are likely to remain resilient.”Asian markets traded lower on Wednesday, tracking sharp losses on Wall Street as escalating trade tensions between the United States and Europe over Greenland unsettled investors and heightened volatility across global bond markets. The risk-off mood pushed gold to a fresh record high, while equities remained under pressure.Overnight in the US, all three major Wall Street indices registered their steepest single-day fall in three months. The selloff was driven by renewed concerns that President Donald Trump’s latest tariff threats against Europe could reignite global market instability and deepen trade-related uncertainty.Commodities also reflected the cautious sentiment. West Texas Intermediate crude prices slipped on Wednesday as worries over geopolitical risks and expectations of a rise in US crude inventories outweighed the impact of a temporary production halt at two major oilfields in Kazakhstan.In Indian markets, foreign portfolio investors continued to pare exposure, selling equities worth Rs 2,938 crore on Tuesday. Domestic institutional investors provided partial support, with net purchases of Rs 3,666 crore, though this was insufficient to offset broader risk aversion.(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)