Today's stock market: The Indian equity benchmark indices, the Nifty50 and the BSE Sensex, opened higher on Monday. While the Nifty50 crossed the 24,400 mark, the BSE Sensex surpassed 80,700.
Market analysts expect share-specific movements to drive trading activity, with potential fluctuations due to global political issues. M&M, Indian Hotels, Coforge, and CAMS are all expected to report significant financial results.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, says, "The reversal in FII strategy in India from selling to buying continued for the week ending May 2nd. During the first three months of 2025, FIIs were active sellers on exchange. FIIs sold equity worth Rs 129680 crores over a three-month period. Over the last 12 trading days, FIIs have been consistent buyers in the cash market, purchasing equities totaling Rs 40145 crores. This is a significant shift in FII strategy. And this will strengthen the market. The focus now is on India's retaliation for the terrorist attack and its aftermath. This concern will limit the FII-led rally. The Dollar index's sharp decline from 111 on January 11th to 99 recently remains a strong tailwind for the market. Largecaps are currently outperforming the broader market, which is a healthy trend. This trend can continue."
US equities rose on Friday, extending their two-week winning streak, boosted by strong economic data and potential improvements in US-China trade relations.
Oil prices fell in early trading following OPEC+'s weekend decision to increase production volumes. Due to the holiday closure of several major exchanges, Asian markets opened cautiously.
Due to the dollar's decline, gold prices increased on Monday as investors awaited the Federal Reserve's policy announcement later this week and sought clarification on trade relations between the US and its trading partners.
The dollar declined on Monday despite a slight decrease in U.S. recession concerns, as investors sought tangible advancements in U.S.-China trade relations rather than merely official proposals.
