Stock Market Today: Sensex and Nifty Begin on a Choppy Note Amid Global Uncertainty
- Tharindu Ameresekere
- Apr 22
- 2 min read
Indian equity markets opened on a cautious note Tuesday morning, reflecting global uncertainties. As of 9:21 AM, the BSE Sensex was trading at 79,319.57, down 89 points or 0.11%, while the Nifty50 slipped 19 points to 24,107.05, marking a 0.077% decline.
Despite today’s subdued start, markets have shown strong momentum over the past week, rising for five consecutive sessions. This sustained rally has been supported by heavy buying in key stocks and steady foreign institutional investments (FIIs). Analysts believe the optimism may continue, buoyed by solid domestic economic indicators and stock-specific movements during the ongoing Q4 earnings season.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted the unusual global environment. “Normally, markets correlate with the US, but these are not normal times,” he said. Tensions between President Trump and Fed Chairman Jerome Powell have unnerved US markets. Powell, emphasizing data-driven decisions, recently dismissed the idea of a “Fed Put” in a conversation with former RBI Governor Raghuram Rajan. The ongoing friction could lead to legal battles and prolong uncertainty.
US markets dipped Monday as Trump escalated his criticism of Powell, sparking fears over the Federal Reserve’s independence. Asian markets mirrored the sentiment with early declines, while gold prices continued to surge, driven by safe-haven demand. Oil prices also rose Tuesday morning, as investors covered short positions despite lingering concerns over global economic growth.
Back home, foreign portfolio investors (FPIs) remained net buyers, investing Rs1,970 crore on Monday. Domestic institutional investors (DIIs) followed suit with purchases worth Rs246 crore. Meanwhile, the net short positions of FIIs dropped from Rs83,273 crore on Thursday to Rs77,270 crore on Monday, suggesting a cautiously optimistic outlook.
Comments