Market observers noted that declining US 10-year yields as rupee gained suggested foreign institutional investors were shifting focus to emerging markets, including India. (AI image)

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Thursday. While Nifty50 was above 25,400, BSE Sensex was up over 300 points. At 9:18 AM, Nifty50 was trading at 25,410.10, up 87 points or 0.34%. BSE Sensex was at 82,942.13, up 337 points or 0.41%.Market observers noted that declining US 10-year yields as rupee gained suggested foreign institutional investors were shifting focus to emerging markets, including India, potentially influencing domestic market direction in the coming months.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Latest comments from the US administration indicate reduction in the India-US trade tensions and points to the possibility of a US-India trade deal in the next few weeks. China’s tough actions regarding the rare earth magnets have hit the US hard and, therefore, the US is keen on striking a deal with India with both countries making some concessions.” “Even though Indian macros are robust and GDP growth projection for FY26 is being revised up, India’s exports and jobs in labour intensive areas like textiles, gems and jewellery and leather products have been hit hard. In this context, a US-India trade deal will be a big boost to the markets. The low CPI inflation of 1.54% in September and the possibility of FY26 annual inflation declining to 2.6% open up the possibility of further rate cuts by the MPC. This, in turn, will boost the prospects of rate sensitives particularly automobiles, which are likely to experience sustained high demand for an extended period of time.”The S&P 500 finished higher on Wednesday, with Morgan Stanley and Bank of America shares rising after strong quarterly performances, whilst investors monitored escalating China-US trade friction.Asian equities increased at opening following US market gains in a fluctuating session as investors assessed new US-China trade developments.Oil prices increased approximately 1% during early trading Thursday after US President Donald Trump claimed that Prime Minister Narendra Modi committed to halting Russian oil purchases, which currently constitute one-third of India’s imports.Gold achieved a new peak Thursday as investors sought safety in the precious metal during ongoing geopolitical and economic uncertainties, supported by anticipated US interest rate reductions and declining dollar strength.Foreign portfolio investors sold shares worth Rs 68 crore net on Wednesday. Domestic institutional investors were net purchasers, investing Rs 4,650 crore.(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)