The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat-to-positive on Tuesday, following a rally in global markets.
Asian markets traded higher, while the US stock market rallied overnight on hopes that the government shutdown will end soon.
On Monday, the Indian stock market ended higher, snapping its three-day losing streak, amid buying in select index heavyweights.
The Sensex gained 319.07 points, or 0.38%, to close at 83,535.35, while the Nifty 50 settled 82.05 points, or 0.32%, higher at 25,574.35.
“We expect markets to remain range-bound tracking global cues, while optimism around better than expected corporate earnings and any progress in India–US trade talks could provide upside support,” 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 Tuesday, following overnight gains on Wall Street. Japan’s Nikkei 225 gained 1.06%, while the Topix index rose 0.52%. South Korea’s Kospi index rallied 2.72%, and Kosdaq rose 1.38%. Hong Kong’s Hang Seng Index futures indicated a slightly lower opening.
Gift Nifty Today
Gift Nifty was trading around 25,709 level, a premium of nearly 15 points from the Nifty futures’ previous close, indicating a flat-to-positive start for the Indian stock market indices.
Wall Street
US stock market ended sharply higher on Monday, led by big gains in heavyweight AI-related stocks following progress to end a record government shutdown.
The Dow Jones Industrial Average gained 0.81% to 47,368.63, while the S&P 500 rallied 1.54% to end at 6,832.43. The Nasdaq closed 2.27% higher at 23,527.17, its biggest one-day percentage gain since May 27.
Nvidia stock price jumped 5.8%, Palantir shares surged 8.8%, AMD stock price gained 4.47%, Amazon share price rose 1.63% and Microsoft stock advanced 1.85%. Tesla stock price rallied 3.7%, United Airlines shares fell 1.3% and American Airlines stock price declined 2.5%. Metsera shares slumped 14.8% and Eli Lilly shares rose 4.6%.
India-US Trade Deal
US President Donald Trump said he “at some point” would reduce the tariff rate on Indian goods, saying the US was getting “pretty close” to a trade deal with New Delhi, Bloomberg reported. “We’re getting a fair deal,” Trump said. He predicted the nations were “pretty close to doing a deal that’s good for everybody.”
US Fed Governor
US Federal Reserve Governor Stephen Miran said better-than-expected inflation data and signs of continued weakness in the job market call for a third consecutive interest-rate cut in December. A half-point cut next month is still “appropriate,” Miran said during an interview with CNBC. “At a minimum,” he added, the central bank should lower rates by an additional quarter percentage point.
Gold Prices
Gold prices extended gains to a near three-week high as growing expectations of another Fed rate cut in December lifted demand for the safe-haven asset. Spot gold price rose 0.4% to $4,131.83 per ounce, its highest since October 24. US gold futures for December delivery rose 0.4% to $4,138.70 per ounce.
Crude Oil Prices
Crude oil prices traded lower. Brent crude oil fell 0.19% to $63.94 a barrel, while the US West Texas Intermediate (WTI) crude futures declined 0.23% to $60.01.
(With inputs from Agencies)
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