The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat on Thursday, following mixed global market cues.
Asian markets traded higher, with Japan’s Nikkei hitting record high, while the US stock market ended lower on strong jobs data overnight.
On Wednesday, the Indian stock market ended the choppy session on a flat note, as investors booked some profits following healthy gains over the last three consecutive sessions.
The Sensex fell 40.28 points, or 0.05%, to close at 84,233.64, while the Nifty 50 settled 18.70 points, or 0.07%, higher at 25,953.85.
“Markets are expected to witness a gradual uptick, with stock-specific activity likely to pick up as the Q3 earnings season nears its final phase,” 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 Thursday, with Japan’s Nikkei 225 hitting 58,000 for the first time in history. Nikkei was up 0.44%, and the Topix gained 0.68%. South Korea’s Kospi jumped 1.12%, while the Kosdaq rose 0.22%. Hong Kong’s Hang Seng index futures indicated a lower start.
Gift Nifty Today
Gift Nifty was trading around 25,995 level, a premium of nearly 1 point from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
Wall Street
US stock market ended lower on Wednesday after a better-than-expected jobs report.
The Dow Jones Industrial Average fell 66.74 points, or 0.13%, to close at 50,121.40, while the S&P 500 ended nearly flat at 6,941.47. The Nasdaq Composite closed 0.16% lower at 23,066.47.
Nvidia stock price rose 0.78%, Microsoft shares fell 2.15%, Amazon share price declined 1.31%, while Tesla stock price gained 0.80%. Exxon Mobil shares climbed 2.6% and Smurfit Westrock shares jumped 9.9%.
US Nonfarm Payrolls
US job growth accelerated in January and the unemployment rate fell to 4.3%, signs of labor market stability. Nonfarm payrolls increased by 130,000 jobs last month after a downwardly revised 48,000 rise in December. Economists polled by Reuters had forecast payrolls advancing by 70,000 jobs. The unemployment rate fell from 4.4% in December.
US Treasury Yields
US treasury yields gained after the jobs report. The benchmark 10-year Treasury yield rose to 4.17%. The two-year Treasury yield, which moves more closely with expectations for Fed moves, climbed six basis points to 3.51% from 3.45%.
Trump Tariffs
US House lawmakers voted Wednesday to reject Donald Trump’s tariffs on Canadian goods. The measure brought by Democrats was approved 219-211, with six Republicans joining the effort. However, it remains largely a symbolic move and will still need US Senate passage and the president’s signature.
Direct Tax Collection
Net direct tax collection grew 9.4% to about ₹19.44 lakh crore in the current fiscal till February 10. Gross direct tax collection increased 4.09% to ₹22.78 lakh. In the Revised Estimates (RE) for current fiscal (2025-26), the government has projected its direct tax collection at ₹24.84 lakh crore.
Gold Prices
Gold prices declined after robust US jobs data. Spot gold price slipped 0.4% to $5,065.56 an ounce, while silver price fell 0.8% to $83.60 an ounce.
Dollar
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.11% to 97.02. The euro fell 0.31% to $1.1857. Against the Japanese yen, the dollar weakened 0.59% to 153.47.
Crude Oil Prices
Crude oil prices rose for a second day on tensions between the US and Iran. Brent crude oil price gained 0.29% to $69.60 a barrel, while the US West Texas Intermediate (WTI) crude futures rose 0.36% to $64.86.
(With inputs from Reuters)
