Stock Market LIVE: Sensex Fluctuates, Nifty Hovers Near 24,500; Jio Fin, ITC Lead Gains

Stock market live: Reliance Industries Ltd (RIL) was trading with a slight positive outlook, reaching the intraday high of Rs1,395 in the BSE. The focus of Nifty50 updates is at the annual General Meeting (AGM) scheduled at 2 pm, when more than 44 lakh shareholders are waiting for important announcements regarding Jio Financial top gainer and artificial intelligence projects as well as energy ventures and the expansion of digital.

In the meantime, Adani Power Ltd. is India's biggest privately owned thermal power company, announced that it had won an Letter of Award (LoA) from Bihar State Power Generation Company Ltd. (BSPGCL) to provide electricity for a period of 25 years.

Thursday's Sensex today live market session demonstrated how the negative sentiment persists despite the an increase in local institutional purchases. Domestic Institutional Investors (DIIs) bought shares worth Rs.6,920 crore, far more than the Foreign Institutional Investor (FII) selling of the equivalent of Rs3,856 crore. However the Nifty was still down 221 points. Analysts say that the aggressive short positions backed by FIIs caused by fears regarding Trump's proposed 50 percent trade war and the stretched value of India which have led to the market downturn.

In the realm of banking, Yes Bank is set for a significant boost as the Japanese company Sumitomo Mitsui Banking Corp (SMBC) plans to invest in a total of the sum of Rs16,000 crore using a combination of debt and equity. The deal, which entails the acquisition of 20% stake from existing shareholders (pending approval from the regulator) substantially Sensex swings the balance of accounts and its overall fiscal health.

On the other hand Asset management firms are among this top gainers, aided by record flows and optimism regarding regulatory reforms. However, experts warn that the intense competition and high valuations could limit growth in the future. With the emergence of more players in the market and possible IPOs coming up AMC companies AMC sector could be facing stiffer competition, which could increase the likelihood of a short-term decline.