How will markets open today? Here are 7 key cues to watch out for

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a higher start on Tuesday following Asian markets opening on a lower note in early trade hours. 

Previously, on Monday, the NSE Nifty 50 closed the session 345.55 points or 1.47% lower at 23,085.95, while the BSE Sensex closed 1,048.90 points or 1.36% lower at 76,330.01.

Key global and domestic cues to know on January 14, 2024 Asian markets

Asia markets were trading on a lower note on Tuesday following an overnight loss in the US markets. Japan’s Nikkei 225 was trading 1.5% lower at 38,599.36. South Korea’s Kospi slipped 0.01% to trade at 2,489.93. The Asia Dow was trading 1.65% lower at 3,645.81. 

Wall Street

US indices closed Monday on a mixed note after tech stocks saw a massive selloff. The S&P 500 closed the session 0.16% higher at 5,836.22. The technology-heavy Nasdaq Composite dipped 0.38% to close the session at 19,088.10. The 30-stock Dow Jones Industrial Average advanced 358.67 points or 0.86% to close at 42,297.12.

US dollar 

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.10% at 109.60 on Tuesday morning. 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. Also, the Indian rupee closed to a new all-time low of 86.59 against the US Dollar on Monday.

Crude oil

WTI crude prices were trading at $78.69 down by 0.16%, while Brent crude prices were trading at $80.82 down by 0.24%, on Tuesday morning. 

FII, DII data

Foreign institutional investors (FII) were the net sellers of shares net worth Rs 4,892.84 crore. Meanwhile, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 8,066.07 crore on January 13, 2024, according to the provisional data available on the NSE.

India’s retail inflation

India’s retail inflation, based on the Consumer Price Index (CPI), for December stood at 5.22%, slightly lower than 5.48% in November, data released by the Ministry of Statistics & Programme Implementation showed on Monday. In October, CPI inflation had reached a 14-month high of 6.21% and it stood at 5.69% in December 2023.

Quarterly results

HDFC Asset Management Company,

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