Indian stock market: The equity market indices, Sensex and Nifty 50, are expected to open on a flat note Wednesday, following mixed cues from global markets.
Asian markets traded higher, while the US stock market ended lower overnight, with the S&P breaking its seven-day winning streak.
On Tuesday, the Indian stock market ended higher, extending gains for the fourth consecutive session.
The Sensex rallied 136.63 points, or 0.17%, to close at 81,926.75, while the Nifty 50 settled 30.65 points, or 0.12%, higher at 25,108.30.
“We expect Indian equities to remain range-bound in the near term with stock specific action, driven by sectoral developments, festive demand trends and the upcoming earnings announcements,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded higher on Wednesday, after the World Bank raised the region’s growth forecast. Japan’s Nikkei 225 gained 0.4%, while the Topix rose 0.62%. Hong Kong’s Hang Seng index futures indicated a higher opening. Mainland China and South Korean markets are closed for the holidays.
Gift Nifty Today
Gift Nifty was trading around 25,212 level, a discount of nearly 13 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
Wall Street
US stock market ended lower on Tuesday as investors opted for profit booking, with the S&P snapping its seven-day gaining streak.
The Dow Jones Industrial Average declined 91.99 points, or 0.20%, to 46,602.98, while the S&P 500 fell 25.69 points, or 0.38%, to 6,714.59. The Nasdaq Composite closed 153.30 points, or 0.67%, lower at 22,788.36.
Tesla stock price dropped 4.5%, Nvidia share price fell 0.25%, Advanced Micro Devices shares gained 3.8%, while Intel stock rose 1.7%. Constellation Brands shares rallied 1%, IBM share price rose 1.5%, US-listed shares of Trilogy Metals soared 207.8% and AppLovin stock price surged 7.6%.
India-US Trade Deal
Union Minister for Commerce and Industry Piyush Goyal said India and the United States are continuing their dialogue on the proposed bilateral trade agreement (BTA), including the possibility of meeting the November 2025 deadline.
Keir Starmer India Visit
British Prime Minister Keir Starmer begins a two-day visit to India on Wednesday, joined by over a hundred leaders from the business, culture and university sectors in an effort to promote a recently signed trade deal.
Japan Real Wages
Japanese workers saw real wages fall for the eighth straight month in August. Inflation-adjusted real wages, a key barometer of Japanese households’ purchasing power, fell 1.4% in August from a year earlier.
Gold Prices
Gold prices hit an all-time high, nearing the crucial $4,000-per-ounce level. Spot gold price rose 0.3% to $3,995.14 per ounce, after hitting a fresh high of $3,999.09 earlier in the session. US gold futures for December delivery gained 0.3% to $4,016.30.
Dollar
The US dollar rose to its strongest levels in six weeks. The dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.50% to 98.616, its highest level since 27 August. Against the yen, the dollar was trading at 152.205 yen, up 0.2%. The euro was steady at $1.1655, while sterling rose 0.1% to $1.3429. The offshore yuan traded flat at 7.1469 yuan per dollar.
(With inputs from Reuters)
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