Indian stock market: 6 things that changed for market overnight - Gift Nifty, rise in oil prices to steady dollar
Catch Live Market Updates here The Indian stock market indices ended flat on Monday, the first trading of the new year 2024, while the second rung midcap and smallcap indices clocked healthy gains. The Sensex gained 31.68 points, or 0.04%, to close at 72,271.9, while the Nifty 50 ended 10.50 points, or 0.05%, higher at 21,741.90. “Market exhibited strength led by optimism on rate cuts, easing global inflation, and softer bond yields.
But profit booking was visible at higher levels as lingering concerns over Red Sea disruptions pose short-term risks to global supply chains and freight costs. The spotlight of this week is also on FOMC minutes which will provide an insight for 2024 rate cut. Momentum in mid & small caps remains strong, buoyed by a positive macro-outlook however private banks experienced a reversal trend," said Vinod Nair, Head of Research at Geojit Financial Services.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 2nd January Here are key domestic and global market cues for Sensex today: Asian markets traded mixed on Tuesday ahead of the release of key economic data from the region this week. Japanese markets are closed till January 4. Hong Kong’s Hang Seng index futures indicated a higher open.
Australia’s S&P/ASX 200 traded marginally lower. Gift Nifty was trading around 21,860 level as against Nifty futures’ previous close of 21,830, indicating a positive start for the Indian stock market indices. US stock futures traded flat in overnight trading on Monday.
The Dow Jones Industrial Average futures rose 18 points, while S&P 500 futures and Nasdaq 100 futures traded flat. US markets were shut on Monday for New Year’s Day. (Exciting news! Mint is now on WhatsApp Channels
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