The GIFT Nifty indicates that the BSE Sensex and NSE Nifty 50 are likely to open higher on Friday, January 24.
The Indian stock markets closed Thursday’s session with modest gains as the NSE Nifty 50 rose 60.90 points or 0.26% to 23,216.25 and the BSE Sensex added 115.39 points or 0.15% to settle at 76,520.38. While broader indices performed strongly, with the Nifty Midcap 100 surging 1.73% to 54,027.05, the banking sector lagged, as the Nifty Bank slipped 130 points or 0.27% to close at 48,594.50.
Top cues to watch on January 24, 2025 Trump address at the World Economic Forum (WEF)
On January 23, U.S. President Donald Trump delivered a virtual speech at the World Economic Forum (WEF) Annual Meeting 2025, held in Davos, Switzerland, from January 20 to 24. This marked his first major speech to global leaders since being inaugurated for his second term just days prior, on January 20. Trump outlined his administration’s priorities, including tackling inflation, cutting taxes, and working with Saudi Arabia and OPEC to reduce oil prices. He also addressed global issues like the Russia-Ukraine conflict and emphasised the importance of collaboration in solving international challenges. Additionally, Trump reaffirmed his administration’s stance on tariffs and trade relations, particularly with China.
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US indices closed Wednesday on a higher note. The S&P 500 closed the session 0.51% higher at 6,117.22. The technology-heavy Nasdaq Composite gained 0.17% to close the session at 20,043.08. The 30-stock Dow Jones Industrial Average gained 508.34 points or 0.92% to close at 44,565.07.
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The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.03% at 108.14 on Friday’s morning. The index measures the US dollar’s strength or weakness against major currencies.
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