Stock Market Today: US-China trade tensions and geopolitical risks weighed on investor sentiment. After an initial rally, investors booked profits at higher levels. IT and banking stocks saw early buying.

Stock Market News: The domestic stock market's initial gains failed to sustain on the fourth trading day of the week. The market started well on the back of strength in IT, banking, and PSU stocks, but global uncertainties and profit-booking led to a mixed trend. The BSE Sensex fell 27.46 points to close at 82,248.61. The Nifty 50 closed slightly higher at 25,496.55, up 14.05 points.

Global uncertainty looms over the market

US-China trade tensions and geopolitical risks weighed on investor sentiment. After an initial rally, investors booked profits at higher levels. IT and banking stocks saw initial buying, but the broader market remained under pressure. Analysts believe the market may trade in a range-bound manner until clear signals emerge from the global market.

Amid fluctuations in the domestic stock market, both selling and buying was seen in selected Sensex companies. The major losers were HDFC Bank, Power Grid Corporation of India, Asian Paints, UltraTech Cement, NTPC Limited and Axis Bank. On the other hand, buying was seen in the gainers Bharat Electronics Limited, Sun Pharmaceutical Industries, Adani Ports and Special Economic Zone, Maruti Suzuki and Bharti Airtel.

Why the caution in the market?

According to analysts, investors adopted a cautious stance ahead of the United States–Iran nuclear talks. Furthermore, there was profit booking in anticipation of US unemployment claims data and India's GDP growth data. Vinod Nair, Research Chief, Geojit Investments Limited, said that investors remained cautious due to mixed signals from global markets. Institutional Investor Activity Foreign Institutional Investors (FIIs) bought shares worth Rs 2,991.64 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 5,118.57 crore.

State of global markets

In Asia, the KOSPI and Nikkei 225 were trading higher, while the Shanghai Composite and Hang Seng Index closed lower. European markets were mostly firm in afternoon trade, while US markets had closed with gains in the previous session. Meanwhile, international oil benchmark Brent Crude fell 0.95% to $70.18 per barrel. A day earlier, the BSE Sensex had closed at 82,276.07, up 50.15 points, and the Nifty 50 had closed at 25,482.50, up 57.85 points.