The GIFT Nifty indicates that the BSE Sensex and NSE Nifty 50 are likely to open lower on Wednesday, January 8.
The Indian stock markets wrapped up the day on a positive note on January 7, with both key indices posting gains. The benchmark Sensex rose by 234.12 points, or 0.30%, to close at 78,199.11, while the broader Nifty climbed 91.85 points, or 0.39%, to settle at 23,707.90.
Top cues to watch on January 8, 2025 Asian Markets
Asia-Pacific markets were trading on a mixed note on Wednesday. Japan’s Nikkei 225 was trading 0.83% lower at 39,751.88. The Korean index Kospi trades 0.29% higher at 2,499.86. Australia’s S&P/ASX 200 index opened higher, gaining about 0.42% . Chinese index, Shanghai Composite was down 0.10%, trading at 3,226.39 points.
Wall Street
US indices closed Tuesday on a lower note. The S&P 500 closed the session 1.11% lower at 5,909.03. The technology-heavy Nasdaq Composite declined 1.90% to close the session at 19,487.67. The 30-stock Dow Jones Industrial Average fell 29.34 points or 0.07% to close at 42,499.02.
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US Dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.04% at 108.63 on Wednesday morning. The index measures the US dollar’s strength or weakness against major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. Also, the Indian rupee closed at 85.82 against the US Dollar on Monday.
Crude Oil
WTI crude prices were trading at $77.43, up by 0.49%, while Brent crude prices were trading at $74.75 up by 0.68%, on Wednesday morning
FII, DII Data
Foreign Institutional Investors (FIIs) sold stocks worth Rs 1,491.46 crore on January 7, 2025, with gross purchases of Rs 11,726.68 crore and sales totaling Rs 13,218.14 crore. Meanwhile, Domestic Institutional Investors (DIIs) recorded a net buying of Rs 1,615.28 crore, driven by Rs 12,256.43 crore in purchases against Rs 10,641.15 crore in sales.
India GDP 2025: Advance estimates highlights
India’s GDP is projected to grow at 6.4% in FY25, down from 8.2% in FY24, as per NSO’s first advance estimates. Manufacturing growth is expected to dip sharply to 5.3% from 9.9%,
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