Stock market today: Nifty50 above 24,850; BSE Sensex rises over 500 points

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Thursday. While Nifty50 went above 24,850, BSE Sensex rose over 500 points. At 9:18 AM, Nifty50 was trading at 24,868.00, up 116 points or 0.47%.

BSE Sensex was at 81,753.20, up 441 points or 0.54%.Market analysts anticipate a period of consolidation with selective buying whilst investors evaluate forthcoming data and global market conditions.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Trump’s tariff-related news continues to impact markets. The US Federal court striking down the reciprocal tariffs is a clear message that the maverick president cannot ride roughshod over markets and economy with his questionable decisions.

This court ruling is the second big blow to President Trump after the blow delivered by the bond market which forced the Trump administration to pause the tariffs for 90 days.

From the market perspective, this is a positive development. “Nifty is consolidating in a 500 point range within 24500 - 25000. A breakout or breakdown from this range appears difficult in the near-term. All the action is in the mid and smallcap space in response to the results.

Investors should not chase mid and smallcaps without any concern for valuations. Quality mid and smallcaps have the potential to outperform."US stock markets declined on Wednesday as market participants assessed Federal Reserve meeting minutes and semiconductor design stocks weakened in late trading.Asian equities and US futures advanced on Thursday after a US federal court blocked President Donald Trump's "Liberation Day" tariffs, leading to dollar appreciation against safe-haven currencies.The U.S. dollar experienced a significant upswing on Thursday following the court's decision to block Trump's tariffs, resulting in notable gains against the euro, yen and Swiss franc.Gold prices declined to their lowest point in over a week on Thursday, influenced by a strengthening dollar and improved risk sentiment after the US court order.Foreign portfolio investors purchased shares worth Rs 4,663 crore net on Wednesday, whilst domestic institutional investors acquired Rs 7,912 crore net.FIIs' position in futures market showed an increase in net short position from Rs 67,419 crore on Tuesday to Rs 78,987 crore on Wednesday.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)