GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are poised to see a higher start on Tuesday despite Asian markets opening on a mixed note in early trade hours hit by DeepSeek.
Previously, on Monday, the NSE Nifty 50 closed the session 263.05 points or 1.14% lower at 22,829.15, while the BSE Sensex declined 824.29 points or 1.08% to close at 75,366.17.
Key global and domestic cues to know on January 28, 2024 Global Markets
Asia markets were trading on a mixed note on Tuesday after Wall Street saw a massive dip in tech companies dragged by DeepSeek’s AI dominance. Japan’s Nikkei 225 was trading 0.70% lower at 39,280.47. However, the Asia Dow was trading 0.26% higher at 3,741.93. The Chinese benchmark index, the Shanghai Composite was trading flat at 3,250.60. The Hang Seng was trading 0.21% higher at 20,231. Also, Japan’s semiconductor stocks fell the previous day as DeepSeek posed a risk to Asian technology firms involved in the U.S. AI value chain. The technology-heavy Nasdaq Composite dropped 3.07% to end at 19,341.83. Nvidia lost almost 17%, followed by Broadcom which slid 17.4%, and so on. The S&P 500 closed the session 1.46% lower at 6,012.28.
Also Read Stocks To Watch: JSW Energy, Tata Steel, Macrotech Developers, Piramal Enterpirses, Indian Oil Corp, Emami, Ultratech Cement, Coal India, Adani Wilmar DeepSeek Impact: US tech czars lose $108 bn in one day, Nvidia’s Jensen Huang’s net worth plunges by $20bn Bloodbath on D-Street: 3 reasons why the stock market is falling today How are markets poised to open? Here are top 6 cues to watch ahead of opening DeepSeek in focus
DeepSeek is a Chinese artificial intelligence startup that took over rival OpenAI’s dominance as the most downloaded free app in the U.S. on Apple’s App Store. DeepSeek was founded in 2023 by Liang Wenfeng, co-founder of High-Flyer, a quantitative hedge fund focused on AI. However, DeepSeek was hit with a cyber-attack, forcing it to temporarily limit registrations. Following approximately two hours of monitoring, the firm stated that it had fallen prey to a “large-scale malicious attack.”
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.51% at 107.89 on Tuesday morning.
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