Ahead of Market: 10 things that will decide D-Street action on Tuesday
stock market ended in the green on Monday, snapping a five-session losing streak. Gains in heavyweight financial and metal stocks propelled the benchmarks higher, supported by a positive trend in regional peers following subdued U.S. inflation data.
The benchmark BSE Sensex gained 498.58 points or 0.64% to close at 78,540.17, while the broader Nifty 50 index closed at 23,753.45, higher by 165.95 points or 0.7%.
Here's how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said the Indian market demonstrated optimism following the recent sell-off with lower-than-expected U.S. personal consumption expenditures (PCE) print bolstering investor sentiment in interest rate-sensitive sectors.
“Broad-based buying was observed, with the metals sector notably benefiting from the anticipated increase in steel import taxes. Despite the positive market sentiment, the short-term outlook is expected to remain sideways due to a lack of new catalysts and the impact of the festive season and holidays," added Nair.
US markets
Wall Street's main indexes were mixed at the start of a holiday-shortened week on Monday, after a stopgap government funding bill averted a partial shutdown and investors braced for a slower pace of rate cuts from the U.S. central bank next year.
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