Mumbai (Maharashtra) [India], October 14 (ANI): Indian stock market opened in the positive territory on Tuesday, though investors remained cautious as the India-US trade deal continues to progress with talks moving ahead.
The Nifty 50 index opened at 25,277.55, gaining 50.20 points or 0.20 per cent, while the BSE Sensex began the day at 82,404.54, up by 77.49 points or 0.09 per cent.
Experts said that while the overall mood is improving due to progress in trade discussions between India and the United States, uncertainty over tariffs continues to weigh on investor sentiment.
Banking and market expert Ajay Bagga told ANI, “Indian markets were tepid on Monday, with the Friday US impact being absorbed by fresh domestic buying. Futures are pointing to a flat open for the Indian markets. Indian commerce ministry announced that trade talks with US are progressing well, however the markets are not willing to factor this in till the actual deal is done, given the Trump strategy of chaos and unpredictability.”
Bagga added that the recent Middle East peace announcements are a positive sign for global geopolitics. He noted that with Ukraine’s leader scheduled to meet President Trump in the US on Friday, expectations of additional weapons and aid for Ukraine are high.
On the commodities front, oil, gold and silver prices have risen. Gold climbed to a new lifetime high of USD 4,149 per ounce, while silver prices are witnessing a rapid surge due to a physical shortage in the market, forcing exchanges globally to scramble to meet delivery demands.
Meanwhile, global market sentiment improved slightly after US President Donald Trump adopted a more conciliatory tone towards China. US Secretary of State Bessent confirmed that the Trump-Xi meeting scheduled for the end of the month will take place as planned. Following this, the US markets recovered more than half of their losses from Friday.
In the cryptocurrency market, recovery continues after the forced liquidation of over USD 19 billion in leveraged positions on Friday, which wiped out 1.6 million accounts.
Bagga suggest that the “whale” who took a large position before the Trump-China 100 per cent tariff announcement has again built up a significant short position on Monday.
On the domestic front, several companies are set to announce their second-quarter earnings today. These include Tech Mahindra, ICICI Lombard General Insurance Company, ICICI Prudential Life Insurance Company, Persistent Systems, Bank of Maharashtra, Indian Renewable Energy Development Agency, Leela Palaces Hotels & Resorts, Thyrocare Technologies, Cyient DLM, Navkar Corporation, Automobile Corporation of Goa (ACGL), GTPL Hathway, and Aditya Birla Money.
In addition, LG Electronics India, a manufacturer and distributor of home appliances and consumer electronics (excluding mobile phones), will make its stock market debut on Tuesday.
Among other Asian markets, Japan’s Nikkei 225 declined 1.29 per cent, Singapore’s Straits Times fell 0.4 per cent, and Hong Kong’s Hang Seng index dropped 0.45 per cent. However, South Korea’s KOSPI gained 0.57 per cent, and Taiwan’s weighted index rose 0.92 per cent.
Despite lingering global uncertainties, analysts believe the improving trajectory of India-US trade talks and strong domestic fundamentals may support market resilience in the near term. (ANI)
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