Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note on Wednesday amid mixed global market cues.
Asian markets traded mixed, while the US stock market ended higher overnight, with the S&P 500 notching its sixth straight session of gains.
On Tuesday, the Indian stock market indices ended choppy session on a flat note with a positive bias.
The Sensex gained 70.01 points, or 0.09%, to close at 80,288.38, while the Nifty 50 settled 7.45 points, or 0.03%, higher at 24,335.95.
“Beyond the strong performance from banking and financials, we are now witnessing rotational buying in heavyweight stocks from other sectors such as IT, energy, and auto. This trend could support the index in maintaining its positive bias. Hence, any short-term pause or consolidation should be viewed as healthy. Participants are advised to continue with a ‘buy on dips’ strategy, focusing on stock selection based on relative strength,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed on Wednesday ahead of slew of key economic data in the region. Japan’s Nikkei 225 gained 0.14%, while the Topix rose 0.5%. South Korea’s Kospi fell 0.2% and the Kosdaq declined 0.25%.
Gift Nifty Today
Gift Nifty was trading around 24,451 level, a premium of nearly 25 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.
Wall Street
US stock market ended higher on Tuesday amid signs of progress in US President Donald Trump’s tariff negotiations.
The Dow Jones Industrial Average rallied 300.03 points, or 0.75%, to 40,527.62, while the S&P 500 gained 32.07 points, or 0.58%, to 5,560.82. The Nasdaq Composite closed 95.19 points, or 0.55%, higher at 17,461.32.
Apple share price rose 0.51%, Nvidia stock price gained 0.27%, while Tesla stock price rallied 2.15%.
General Motors shares fell 0.6%, Honeywell share price jumped 5.4%, Sherwin-Williams stock price rallied 4.8%, while Coca-Cola shares rose 0.8%. United Parcel Service stock slipped 0.4%, while Wells Fargo share price gained 2.4%.
US-India Trade Talks
The US is “very close” on a trade deal with India, US Treasury Secretary Scott Bessent said, noting that it is much easier to negotiate with Delhi because of the high tariffs and talks with the country are “moving well.” Earlier, he told CNBC that India is likely to be among the first countries to finalise a bilateral trade agreement with the US to avert reciprocal tariffs.
Dollar
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.2% to 99.23, with the euro down 0.35% at $1.1381, Reuters reported. Against the Japanese yen, the dollar strengthened 0.2% to 142.32. Sterling weakened 0.27% to $1.3402.
US Treasury Yields
The US 10-year Treasury yield fell for the sixth straight day to a three-week low amid weaker-than-expected economic data. The yield dropped 4.6 basis points (bps) to 4.17%, from 4.216% late on Monday. The 30-year bond yield fell 5 bps to 4.6431% from 4.693%. The 2-year note yield fell 2.9 bps to 3.656%.
Crude Oil Prices
Crude oil prices fell as Trump’s tariff policies raised concerns about weakening global economic growth and fuel demand. Brent crude futures fell 0.26% to $64.08 per barrel, while US West Texas Intermediate crude futures dropped 0.2% to $60.3 a barrel. Both benchmarks posted their lowest settlement prices since April 10 in the previous session.
Gold Prices Today
Gold prices traded flat as investors awaited potential trade developments between the US and its trading partners. Spot gold was steady at $3,318.79 an ounce, while US gold futures fell 0.2% to $3,328.50.
(With inputs from Reuters)
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
