Indian stock market: India’s domestic stock indexes Sensex and Nifty 50 are expected to open higher on Tuesday amid mixed global conditions.
Asian markets were mixed, but U.S. stock markets closed mostly higher overnight, with the Nasdaq hitting a record high, led by a rally in tech stocks ahead of Nvidia’s results.
Investors will focus on the fourth quarter results, turnout in the ongoing Lok Sabha elections, domestic and international macroeconomic data, foreign capital outflows, oil prices, and other global indicators.
Read here: This week’s highlights: Federal Reserve Chairman’s speech, fourth quarter earnings, foreign investor activity, global indicators and more are key market triggers this week
On Saturday, Indian stock market indexes ended a special session with modest gains on positive global news.
The Sensex index rose 88.91 points (0.12%) to close at 74,005.94, while the Nifty 50 index rose 35.90 points (0.16%) to close at 22,502.00.
Domestic stock markets were closed on Monday due to the Lok Sabha elections in Mumbai.
“There remains uncertainty about the timing of the Federal Reserve’s interest rate adjustments, and market participants are looking forward to clarity from the Fed Chairman’s upcoming speech. As uncertainty continues, we expect volatility to continue in the short term,” said Vinod Nair, head of research at Geojit Financial Services.
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Here are today’s key global market cues for Sensex.
asian market
Asian markets traded mixed after tech stocks rose on Wall Street overnight.
Japan’s Nikkei rose 0.35%, while South Korea’s Kospi fell 0.49%. Hong Kong’s Hang Seng Index futures posted a weak start.
Also read: South Korean stocks fall due to decline in battery manufacturers, focus on central bank meeting
Give a thoughtful gift today
Gift Nifty is trading around 22,605 levels, nearly 60 points premium from the previous closing price of Nifty futures, indicating a strong start for the Indian stock market index.
wall street
U.S. stock markets ended mixed on Monday, with the Nasdaq closing at a record high, led by gains in tech stocks.
The Dow Jones Industrial Average fell 196.82 points, or 0.49%, to 39,806.77, and the S&P 500 Index rose 4.86 points, or 0.09%, to 5,308.13. The Nasdaq Composite Index rose 108.91 points, or 0.65%, to end at 16,794.87.
Ahead of their quarterly earnings reports on Wednesday, Nvidia shares rose 2.49% and Micron Technology rose 2.96%. JPMorgan shares fell 4.5% and Norwegian Cruise Line shares rose 7.56%.
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US Fed officials
According to Reuters, Federal Reserve Vice Chairman Philip Jefferson said it was too early to tell whether the slowdown in inflation would be “long-lasting,” and Vice Chairman Michael Barr said that restrictions He said the policy needed more time. Meanwhile, central banks need to be confident that the slowdown in price growth is sustainable.
Iranian president dies
Iranian President Ebrahim Raisi and Foreign Minister Hossein Amir Abdullahian were confirmed dead in a helicopter crash, the country’s semi-official Mehr news agency reported. The accident occurred on Sunday in difficult conditions in East Azerbaijan’s mountainous region and icy weather.
Read here: Iranian President Ebrahim Raisi and Foreign Minister Hossein Amir Abdullahian killed in helicopter crash: report
oil price
Oil prices fell as investors expect U.S. inflation and interest rates to rise for an extended period of time.
Brent crude oil fell 0.16% to $83.58 per barrel, and US West Texas Intermediate (WTI) crude oil futures fell 0.10% to $79.72.
dollar
The dollar was firm while the yen struggled in the low 156 yen range, according to Reuters. The dollar rose 0.07 percent against the yen to 156.37 yen in early Asian trading.
The dollar index, which measures the value of the U.S. currency against six rival currencies, held steady at 104.61.
(Information provided by Reuters)
Disclaimer: The views and recommendations above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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