The domestic equity market benchmarks, Sensex and Nifty 50, are expected to open higher on Monday, taking cues from positive global market trends and strong Asian market performances.
Key Market Cues:
- GIFT Nifty Performance:
- GIFT Nifty rose by 47 points (0.20%) to 24,133 at 7:34 AM IST, signaling a positive opening for the Indian markets.
- The index recorded a day’s low of 24,083 and a high of 24,137.50.
- Global Market Trends:
- US Markets:
- The Dow Jones Industrial Average surged 324.36 points (0.77%) to 42,716.63.
- The S&P 500 gained 72.44 points (1.24%) to 5,941.11.
- The Nasdaq Composite soared 331.19 points (1.72%) to 19,612.44.
- Asian Markets:
- MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1%.
- South Korea’s Kospi added 0.23%, and the Kosdaq gained 0.56%.
- Japan’s Nikkei 225 and Topix posted minor losses, down 0.1% and 0.2%, respectively.
- Hong Kong’s Hang Seng index futures pointed to a stronger opening.
- US Markets:
- Focus for the Week:
- Investors are eyeing key Q3 corporate earnings reports.
- Global triggers include the US Federal Reserve meeting minutes and economic data releases in India and the US.
- Other key factors include trends in foreign fund inflows, crude oil price movements, and dollar strength.
- Friday’s Market Recap:
- Sensex dropped 720.60 points (0.90%) to close at 79,223.11.
- Nifty 50 declined by 183.90 points (0.76%) to settle at 24,004.75, led by profit booking amidst a stronger US dollar.
