Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to see positive opening on Tuesday following gains in global equities.
Asian markets traded higher, while the US stock market ended mixed overnight, with the Nasdaq and S&P 500 closing higher.
On Monday, the Indian stock market indices ended lower, extending their losing streak to the seventh consecutive session, the longest since February 2023.
The Sensex declined 241.30 points, or 0.31%, to close at 77,339.01, while the Nifty 50 settled 78.90 points, or 0.34%, lower at 23,453.80.
“While Indian equity markets are seeing fund outflows for more than a month now, surging US bond yields and local earnings failing to meet the estimates has been causing uncertainty amongst the investors,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded higher on Tuesday, tracking overnight gains on Wall Street.
Japan’s Nikkei 225 gained 0.68%, while the Topix rose 0.65%. South Korea’s Kospi and Kosdaq traded flat. Hong Kong’s Hang Seng index futures indicated a higher opening.
Gift Nifty Today
Gift Nifty was trading around 23,545 level, a premium of nearly 30 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.
Wall Street
US stock market ended mixed on Monday as the selloff in Treasuries abated, with the Nasdaq and S&P 500 recovering some losses.
The Dow Jones Industrial Average declined 55.39 points, or 0.13%, to 43,389.60, while the S&P 500 rose 23.00 points, or 0.39%, to 5,893.62 and the Nasdaq Composite ended 111.69 points, or 0.60%, higher at 18,791.81.
Nvidia stock price dropped 1.3%, Advanced Micro Devices shares gained 3%, while Intel share price rose 2.01%. CVS Health share price gained 5.4%. Tesla shares rallied 5.6% after a media report said that the incoming Donald Trump administration could ease rules.
US Homebuilder Sentiment
US homebuilder sentiment rose to a seven-month high in November and expectations for sales in the next six months surged to the highest in about two-and-a-half years, data showed.
Dollar
US dollar fell but was still near one-year highs. The dollar index, which measures the currency against a basket of six others, was down 0.51% to 106.19, trading just below its one-year peak of 107.07.
US Treasury Yields
US Treasury yields shed gains and eased in choppy trading. The benchmark 10-year note yields were down 1.2 basis points at 4.414%. They reached 4.505% on Friday, the highest since May 31, Reuters reported. Two-year yields fell 1.7 basis points to 4.284% after hitting 4.379% on Friday, the highest since July 31.
Oil Prices
Crude oil prices steadied after the biggest gain in more than five weeks as the dollar weakened. West Texas Intermediate traded near $69 a barrel after surging 3.2% on Monday, while Brent rallied 3.18% to $73.30 a barrel.
Gold Prices
Gold prices rose after six days of losses, as the US dollar retreated and halted its surge. Spot gold rose 1.93% to $2,610.73 an ounce. US gold futures settled 1.7% up at $2,614.60.
(With inputs from Reuters)
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