Ahead of Market: 10 things that will decide stock market action on Wednesday
Indian stock market ended lower on Tuesday, breaking its two-day winning streak, weighed down by selling pressure in auto and pharma stocks. The benchmark S&P BSE Sensex shed 105.79 points or 0.13% to settle at 80,004.06, while the broader Nifty 50 index lost 27.40 points or 0.11% to close at 24,194.5 points.
Here's how analysts read the market pulse:
Commenting on the day's action, Vinod Nair, Head of Research, Geojit Financial Services said the domestic market took a pause after the recent strong rally; however, the broader market remained agile
“FIIs have turned net buyers, breaking a long streak of selling, with MSCI rebalancing. With the end of state elections in 2024, the government focus will be on execution and fulfilling the budget plans. The inflation outlook has improved, driven by expectations of robust agricultural production, which will support the central bank and stock market due to reduction in food inflation,” said Nair.
US markets
The S&P 500 and Nasdaq extended gains on Tuesday as tech stocks rebounded, while investors assessed Donald Trump's tariff proposals and awaited Federal Reserve meeting minutes.
Trump pledged a 25% conditional tariff on Canadian and Mexican imports, potentially violating a renegotiated free-trade deal from his earlier term. He also proposed an additional 10% tariff on Chinese imports, heightening trade war risks.
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