Indian stock market: The Indian stock market indices had a slow start as the Gift Nifty was trading at a level of about 23,986, which was over 6 points lower than the previous closing of the Nifty futures.
Indian stock market: Following a weak trend in international markets, the domestic equity benchmark indices, the Sensex and Nifty 50, are anticipated to open on a muted tone on Monday.While the US stock market ended the week lower due to losses in technology companies, Asian markets saw weaker trading today.
The first batch of December quarter updates for FY25, vehicle sales statistics, domestic and international macroeconomic data, the flow of foreign funds, and other significant global market indications are among the major stock market triggers that investors will be attentively watching this week.
The Indian stock market closed higher on Friday, driven by major players in the banking and automotive industries.
The Nifty 50 closed 63.20 points, or 0.27%, higher at 23,813.40, while the Sensex increased 226.59 points, or 0.29%, to conclude at 78,699.07.
"Markets are expected to be range-bound if there are no notable triggers in the near future. The markets will be closely monitoring the pre-quarterly business updates, which will be given in the first week of January 2025 and offer insights into the impending results season, according to Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Key worldwide market indicators for the Sensex today are as follows:
Markets in Asia
Due to declines in technology shares, Asian markets saw lower trading on Monday, mirroring a decline on Wall Street on Friday. Despite a 0.2% decline, MSCI's broadest index of Asia-Pacific stocks outside of Japan is still 16% ahead for the year.
The Topix traded at the flatline, while Japan's Nikkei 225 lost 0.21%. The Kosdaq fell 0.41% and the South Korean stock exchange's Kospi fell 0.3%.
Present Nifty The Indian stock market indices had a slow start today as the Gift Nifty was trading at about 23,986 level, down over 6 points from the previous close of the Nifty futures.
Profit-taking on all fronts caused the US stock market to close lower on Friday.
The S&P 500 fell 66.75 points, or 1.11%, to close at 5,970.84, while the Dow Jones fell 333.59 points, or 0.77%, to 42,992.21. At 19,722.03, the Nasdaq Composite closed 298.33 points, or 1.49%, lower.
The Dow increased by 0.36%, the Nasdaq by 0.75%, and the S&P 500 by 0.7% for the week.
Alphabet, Amazon.com, and Microsoft all saw stock price declines of more than 1.5%, while Tesla's shares fell 5% and Nvidia's fell 2.1%. Lamb Weston's stock price increased 2.6%, while Amedisys's surged 4.7%.
One dollar
Supported by rising US yields, the Japanese yen fell around five-month lows against the dollar. At 157.71, the yen was being exchanged. According to Reuters, the US dollar index measure against its main competitors was unchanged at 107.98. The value of the euro was $1.0429. The dollar index is up 2.3% for the month, making gains of 6.6% so far this year.
Treasury Yields in the US
Even though the US Federal Reserve dropped cash rates by 100 basis points, US 10-year Treasury yields ended the year around 75 basis points higher than when they began, trading close to eight-month highs at 4.631%.
Prices of Gold
As the Middle East crisis diminished the appeal of gold as a safe haven, gold prices increased. US gold futures increased 0.2% to $2,637.30, while spot gold increased 0.1% to $2,622.93 an ounce.
Prices of Crude Oil
As traders expected additional economic data from China and the US later this week, crude oil prices fell during light holiday trading.
The more active March contract was down 6 cents at $73.73 a barrel, while Brent crude futures down 6 cents to $74.11 a barrel. At $70.52 a barrel, US West Texas Intermediate crude fell 8 cents.
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