Indian stock market: 6 things that changed for market over weekend - Gift Nifty, dip in US dollar to RBI MPC minutes
Catch Live Market Updates here Analysts expect the market to remain range bound with stock specific action this week ahead of the year end. However, the underlying tone of the market remains positive on rising bets on the US Federal Reserve to cut interest rates early next. The Indian stock market indices ended higher on Friday tracking positive cues from global peers.
The Sensex surged 241.86 points, or 0.34%, to close at 71,106.96, while the Nifty 50 settled 94.35 points, or 0.44%, higher at 21,349.40. Also Read: Day trading guide for stock market today: Six stocks to buy or sell on 26 December “The 'buy on dips' strategy continues to drive investors during the subdued week. Despite a premium valuation, the short-term positive trend persists, supported by a strong revival in FIIs buying & stock specific actions.
Heading into the festive season and year-end, we can anticipate a range-bound trade scenario with limited data points," said Vinod Nair, Head of Research at Geojit Financial Services. Here are key domestic and global market cues for Sensex today: Asian markets were subdued on Tuesday amid a thin trade in the last week of the year 2023. Japan’s Nikkei 225 was flat at 33,245.95, while Topix eased 0.10%.
South Korea’s Kospi was also flat at 2,600 and the Kosdaq index declined 0.25%. Markets in Hong Kong, Indonesia, Australia and New Zealand are closed for public holidays. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The Gift Nifty was trading around 21,418 level as compared to Nifty futures’ previous close of 21,385, indicating a positive start for the Indian stock market indices.
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