GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are poised to see a higher start on Wednesday as Asian markets opened on a higher note in early trade hours.
Previously, on Tuesday, the NSE Nifty 50 closed the session 128.10 points or 0.56% higher at 22,957.25, while the BSE Sensex declined 535.24 points or 0.71% to close at 75,901.41.
Key global and domestic cues to know on January 29, 2024 Asia Markets
Asia markets were trading on a high note on Wednesday after Wall Street saw a smart recovery in tech stocks. Japan’s Nikkei 225 was trading 0.38% higher at 39,164.08. The Asia Dow was trading 0.47% higher at 3,754.53. Many Asia Pacific stock markets remained closed on the account of Lunar New Year Holiday.
US markets
The US markets climbed to recover some lost ground on Tuesday. The sell-off in the markets, especially tech stocks, was on the back of the Chinese artificial intelligence model by DeepSeek that challenged the dominance of American AI companies. The technology-heavy Nasdaq Composite rose 2.03% to end at 19,733.59. The S&P 500 closed the session 0.92% higher at 6,067.70. The Dow Jones Industrial Average advanced 136.77 points, or 0.31%, to 44,850.35.
US Fed FOMC
The Federal Reserve is expected to maintain the current interest rates during its January Federal Open Market Committee (FOMC) meeting. The meeting, held over two days (January 28–29), will conclude with Fed Chair Jerome Powell announcing the decision on January 29.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.01% at 107.92 on Wednesday morning. However, the dollar index fell 0.34% to 107.30. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee slipped 0.22% to close at 86.53 to the dollar on January 28.
Crude oil
WTI crude prices were trading at $73.81 up by 0.05%, while Brent crude prices were trading at $77.41 down by 0.10%, on Wednesday morning.
FII, DII data
Foreign institutional investors (FII) were the net sellers of shares net worth Rs 4,920.69 crore. Meanwhile, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 6,814.33 crore on January 28,
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