Sensex & Nifty Up After Yesterday's Fall
The Sensex has risen by 0.43 per cent to trade at 78,302.21, while the Nifty 50 has gained 0.46 per cent, standing at 23,725.60.
Market Update at 9:30 AM: After yesterday's big fall, the markets have opened on a positive note today. At this hour, the Sensex has risen by 0.43 per cent to trade at 78,302.21, while the Nifty 50 has gained 0.46 per cent, standing at 23,725.60.
In the broader indices, the Nifty Midcap 150 has advanced by 0.46 per cent to 20,974.85, and the Nifty Smallcap 250 has climbed 0.44 per cent to 17,533.00. Volatility showed signs of easing as the India VIX declined by 2.42 per cent, settling at 15.27, indicating reduced uncertainty.
Among the sectoral indices, the top outperformers were Nifty Oil & Gas, Nifty Consumer Durables, and Nifty Metal. On the other hand, the laggards included Nifty Media and Nifty Auto.
Within the Nifty 50, the leading gainers were ONGC, Titan, and Tata Consumer Products, while the Top Losers were Bajaj Auto, Hero MotoCorp, and Apollo Hospitals.
The market breadth remained firmly positive, with 1,655 stocks advancing against 621 declining, reflecting improved overall sentiment.
Pre-Market Update at 8:30 AM: On Monday, Wall Street ended the day on a strong note, driven by gains in semiconductor stocks and optimism over a potential easing in trade policies under the incoming administration. This rally lifted the S&P 500 and Nasdaq Composite to their highest levels in over a week.
The Dow Jones Industrial Average slipped slightly by 25.57 points or 0.06 per cent to settle at 42,706.56. Meanwhile, the S&P 500 rose 32.91 points or 0.55 per cent to 5,975.38, and the Nasdaq Composite climbed 243.30 points or 1.24 per cent to close at 19,864.98.
Asian markets followed Wall Street's positive momentum on Tuesday, with technology stocks leading the way. Most major indices advanced, signaling robust investor sentiment.
GIFT Nifty indicates a promising start for Indian markets, with trends pointing to an uptick of around 100 points or 0.42 per cent. Nifty futures were trading near the 23,769 mark at 7:00 AM IST.
On January 6, Indian markets faced a sharp decline as concerns over the Human Metapneumovirus (HMPV) weighed heavily on sentiment. The Sensex plunged 1,258.12 points or 1.59 per cent to close at 77,964.99, while the Nifty tumbled 388.70 points or 1.62 per cent to finish at 23,616.05.
The U.S. dollar remained firm early Tuesday, trading near a one-week low against major peers, as speculation about softer trade tariffs under the President-elect provided mixed signals to the currency markets. The U.S. Dollar Index hovered near 110.12.
Crude oil prices fell further, with WTI crude futures trading around USD 73.2 per barrel, extending losses amid a technical correction. Bearish economic data from the U.S. and Germany dampened sentiment, outweighing factors like colder weather-driven demand and Saudi Arabia's price hikes for Asian buyers.
Foreign institutional investors (FIIs) were net sellers on January 6, offloading equities worth Rs 2,575 crore. On the other hand, domestic institutional investors (DIIs) were net buyers, purchasing equities worth Rs 5,749 crore, continuing their trend of robust inflows.
Hindustan Copper, Manappuram Finance, and RBL Bank are under F&O trading ban today.
Disclaimer: The article is for informational purposes only and not investment advice.