Stock Market Update: GIFT Nifty signals a positive start; HDFC Bank, HUL results play key role

The GIFT Nifty is trading at 23,153.50, indicating a modest 0.02% uptick, suggesting a positive opening for Indian markets on Wednesday after Tuesday’s sharp sell-off. The Sensex and Nifty saw a steep decline during the previous session, with the Nifty breaching the 23,000 mark intraday before closing slightly above it.

Key Updates:

Advertisement

  • Global Cues: Overnight trends in global markets are positive, but the announcement by former U.S. President Donald Trump of a potential 10% tariff on China from February 1 has created concerns about heightened volatility.
  • Key Results Awaited: Major Nifty companies, including HDFC Bank and Hindustan Unilever (HUL), are set to report their earnings today, along with six other stocks in the F&O segment.
  • Market Trends: Tuesday’s session was marked by extreme volatility, with a brief recovery in the Nifty being overshadowed by heavy selling, dragging the index below critical levels.

Investors will closely watch how global trends and domestic earnings announcements shape the market’s direction. The sentiment remains cautious, with the bulls facing challenges in defending key support levels amid persistent concerns over global trade and policy changes.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.