Markets open cautiously as Israel-Hamas deal progresses

The Nifty 50 index opened at 25,167.65, recording a minor decline of 14.15 points or 0.06 per cent, while the BSE Sensex opened lower by 96.65 points or 0.12 per cent at 82,075.45. Experts noted that US markets, which had recently hit lifetime highs, ended a bit lower as the lack of government data kept investors cautious. 

The absence of fresh economic triggers, coupled with uncertainty over the prolonged U.S. government shutdown, weighed on global sentiment. Meanwhile, the Israel-Hamas truce led to a decline in oil prices on reduced Middle East risk premia, while gold and silver continued to move upward.

 Ajay Bagga, Banking and Market Expert, told ANI that India has witnessed multiple days of foreign portfolio investor (FPI) net inflows in the secondary markets. He highlighted that the blockbuster oversubscription of the LG Electronics IPO reflects strong investor appetite for primary market offerings. "The wait is now twofold," Bagga said. 

"Some relief from the U.S. tariffs by November is a small probability. The second is the earnings season which has begun well. The focus will remain on domestic sectors benefiting from continued government infra spending, the consumption boost from GST 2.0, income tax cuts, and the RBI's rate cuts and liquidity injection. Globally linked sectors like IT will wait for more positives from the global macro, but are near their cycle troughs," he added. -- ANI