Trump's Oath Sparks Global Rally: Indian Markets Set for a Bullish Monday!

As the world watches Trump's inauguration, Indian stocks are ready for an optimistic start this week.

Market Update 8:30 AM

On January 17, the Indian market ended a three-day winning streak, closing lower with the Nifty near 23,200. IT and banking stocks faced selling pressure despite strong Quarterly Results from Infosys and Axis Bank. Reliance Industries' higher profits helped limit the overall decline.

The Sensex fell 423.49 points (0.55 per cent) to close at 76,619.33, while the Nifty dropped 108.60 points (0.47 per cent) to settle at 23,203.20.

US markets ended higher on Friday, wrapping up a strong week driven by optimism about the economy and interest rate trends ahead of policy shifts under the Trump administration. The Dow rose 334.70 points (0.78 per cent) to 43,487.83, the S&P 500 gained 59.32 points (1.00 per cent) to 5,996.66, and the Nasdaq added 291.91 points (1.51 per cent) to 19,630.20.

GIFT Nifty signals a positive opening for the Indian market, showing a rise of 51 points (0.22 per cent). Nifty futures were trading near 23,288.50.

Asian markets saw gains on Monday, with both the Nikkei and Hang Seng rising 1 per cent. Investors focused on the upcoming U.S. administration and awaited clarity on its policy direction.

The dollar remained steady on Monday, holding near a two-year high as markets awaited Donald Trump's inauguration. The dollar index, which tracks the currency against six major peers, stood at 109.28, close to last week's 26-month high of 110.17.

Oil prices rose on Monday due to ongoing supply concerns after the US imposed two rounds of sanctions on Russia's energy sector in the last two weeks amid the Ukraine conflict.

Foreign Institutional Investors (FIIs) extended their selling streak, offloading equities worth Rs 3,318 crore. Meanwhile, Domestic Institutional Investors (DIIs) stepped in, purchasing shares amounting to Rs 2,572 crore.

AARTI Industries, Aditya Birla Fashion and Retail, Angel One, Bandhan Bank, Can Fin Homes Ltd, Hindustan Copper, L&T Finance, RBL Bank, Kalyan Jewellers, and Manappuram Finance remain under the F&O trading ban on the NSE.

Disclaimer: The article is for informational purposes only and not investment advice.