Indian stock market indices Sensex and Nifty 50 are expected to open flat on Tuesday, following mixed global market cues. Asian markets traded mixed, with Japan’s Nikkei 225 and Topix gaining, while South Korea’s Kospi was marginally higher and Hong Kong’s Hang Seng index futures indicated a lower opening. The US stock market ended higher on Monday, with the Dow Jones Industrial Average reaching an all-time closing high, amid hopes of a second Donald Trump presidency and expectations of interest rate cuts by the US Federal Reserve.
Goldman Sachs shares gained 2.6%, while Macy’s Inc share price fell 11.7%. Trump Media & Technology Group share price jumped 31.4%, and other companies like Coinbase Global, Marathon Digital Holdings, and Riot Platforms also saw gains. US Federal Reserve Chair Jerome Powell stated that recent data boosts the central bank’s confidence in inflation coming down towards its 2% target, signaling potential interest rate cuts.
Crude oil prices traded lower due to concerns about a slowing Chinese economy affecting demand. Brent futures fell to $84.81 a barrel, while US West Texas Intermediate (WTI) crude dropped to $81.85. The US dollar index was down to 104.25, and gold prices remained steady, with spot gold at $2,422.12 per ounce.
Investors are adopting a selective buying approach ahead of the Budget, with global cues and geopolitical tensions also influencing market trends. It is advised for investors to consult with certified experts before making any investment decisions.
