The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, following upbeat cues from global markets.
Asian markets traded higher, while the US stock market rallied overnight, led by gains in technology stocks.
On Monday, the Indian stock market ended higher following the announcement of a preliminary framework for a trade agreement with the United States.
The Sensex gained 485.35 points, or 0.58%, to close at 84,065.75, while the Nifty 50 settled 173.60 points, or 0.68%, higher at 25,867.30.
“We expect the market to continue its gradual upmove, with stock-specific action likely to remain in focus as the third-quarter earnings season approaches its final leg, with several companies scheduled to announce results this week, while US export beneficiaries — on the back of the trade deal — and metal companies are expected to remain in focus,” 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, following overnight rally on Wall Street. Japan’s Nikkei gained 1.52%, while the Topix rose 1.08%, both reaching new records. South Korea’s Kospi gained 1.21%, and the Kosdaq rose 1.25%. Hong Kong’s Hang Seng index futures indicated a higher opening.
Gift Nifty Today
Gift Nifty was trading around 25,987 level, a premium of nearly 72 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
wall street
US stock market ended higher on Monday, driven by gains in technology stocks.
The Dow Jones Industrial Average rose 20.20 points, or 0.04%, to 50,135.87, while the S&P 500 gained 32.52 points, or 0.47%, to 6,964.82. The Nasdaq Composite closed 207.46 points, or 0.90%, higher at 23,238.67.
Nvidia stock price gained 2.50%, Microsoft shares rose 3.13%, Advanced Micro Devices (AMD) share price rallied 3.63%, Apple shares fell 1.17%, while Tesla stock price rallied 1.51%. Oracle shares jumped 9.6%.
Gold Prices
Gold and silver fell after two straight sessions of gains, as the dollar edged higher from a more than one-week low. Spot gold price fell 1% to $5,016.56 per ounce, while US gold futures for April delivery lost 0.8% to $5,041.60 per ounce. Spot silver price fell 2.5% to $81.31/oz, after rising nearly 7% in the previous session.
Crude Oil Prices
Crude oil prices fell after a two-day advance. Brent crude oil price declined 0.54% to $68.64 a barrel, while the US West Texas Intermediate (WTI) crude futures fell 0.65% to $63.94.
dollars
The US dollar weakened. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.8% to 96.83, with the euro up 0.85% at $1.1917. Against the Japanese yen, the dollar fell 0.91% to 155.77.
(With inputs from Reuters)
