Stock market today: BSE Sensex down over 450 points; Nifty50 below 23,200 – Times of India-OxBig News Network

Friday trading will be influenced by financial results from key companies. (AI image)

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, tanked in opening trade on Friday. While BSE Sensex was down oner 450 points, Nifty50 was below 23,200. At 9:18 AM, BSE Sensex was trading at 76,607.41, down 435 points or 0.57%. Nifty50 was at 23,176.25, down 136 points or 0.58%.
Market indices maintained positive momentum on Thursday, influenced by subdued US inflation figures that suggested potential Federal Reserve rate reductions.

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Friday trading will be influenced by financial results from key companies like Reliance, Infosys, and Axis Bank.
“While recent index movements have lacked clear direction, the resilience of the banking sector, which carries significant weight, is a positive sign. Amid these mixed signals, participants should prioritise selective stock picking and robust risk management strategies,” said Ajit Mishra – SVP, Research, Religare Broking.
Breaking above 23,400-23,450 could trigger additional short covering, pushing Nifty towards 23700, with support at 23150, according to Nagaraj Shetti, HDFC Securities.
US stocks declined on Thursday following a previous day’s rally, as investors analysed corporate earnings reports and economic indicators to assess potential Federal Reserve interest rate reductions.
Asian equities declined in early trading sessions following US market uncertainty, as investors awaited Chinese economic data, including fourth-quarter growth figures, scheduled for Friday.
Gold prices strengthened on Friday, advancing towards a third consecutive weekly gain after US economic data suggested potential Federal Reserve interest rate reductions this year.
Foreign portfolio investors registered net sales of Rs 4,341 crore on Friday. Domestic institutional investors purchased shares worth Rs 2,928 crore.
FIIs’ net short position increased from Rs 2.94 lakh crore on Wednesday to Rs 2.97 lakh crore on Thursday.

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