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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.
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.
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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.