Indian stock market: Gift Nifty, Greenland deal, Nasdaq rally to gold rates
Gift Nifty was trading around 25,320 level, a premium of approximately 142 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
The Indian stock market benchmark indicators, Sensex and Nifty 50, are expected to open higher on Thursday, following upbeat global market cues, after signs of cooling geopolitical tension over Greenland.
Asian markets traded higher, while the US stock market rallying overnight, with the S&P 500 posting its biggest one-day percentage gain in two months, after President Donald Trump backed down on his threats to impose tariffs on European countries over Greenland.
Indian stock market
On Wednesday, the Indian stock market ended lower amid high volatility, extending losses to the third consecutive session, amid elevated geopolitical uncertainties, relentless FII selling, and mixed Q3 earnings.
The Sensex declined 270.84 points, or 0.33%, to close at 81,909.63, whereas the Nifty 50 settled 75.00 points, or 0.30%, lower at 25,157.50.
“A sharp depreciation in the Indian rupee to fresh lows further dampened sentiment, especially in the absence of any meaningful positive surprise from the earnings season. Continued foreign institutional selling added to the pressure, keeping overall risk appetite subdued and market activity largely stock-specific,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets trade higher on Thursday Japan’s Nikkei 225 rose 1.07%, while the Topix gained 0.79%. South Korea’s Kospi rose 1.62%, breaking the 5,000 mark, and the Kosdaq index rallied 1.43%. Hong Kong Hang Seng index futures indicated a higher opening.
Gift Nifty Today
Gift Nifty was trading around 25,320 level, a premium of approximately 142 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
wall street
US stock market ended higher on Wednesday as investors cheered the framework of the Greenland deal and the possibility of new US tariffs on European allies had been averted.
The Dow Jones industrial average rallied 588.64 points, or 1.21%, to 49,077.23, while the S&P 500 gained 78.76 points, or 1.16%, to 6,875.62. The NASDAQ Composite closed 270.50 points, or 1.18%, higher at 23,224.83.
Nvidia stock price gained 2.87%, AMD shares jumped 7.71%, Intel stock price surged 11.72%, while Netflix stock price fell 2.2%. United Airlines shares rose 2.2%, Halliburton stock rallied 4.1%, EQT Corp shares advanced 6.5% and Expand Energy share price gained 4.5%.
Greenland Deal
President Donald Trump said that a framework for an agreement on Greenland had been reached and he will not be imposing the tariffs on European allies that were scheduled to go into effect on February 1st.
US-EU Trade Deal
The European Parliament decided to suspend its work on a trade deal between the 27-member bloc and the United States, following US President Trump’s repeated requests to take control over Greenland, Reuters reported.
India-US Trade Talks
Donald Trump struck an optimistic note on the proposed India–US Bilateral Trade Agreement (BTA), saying the two countries were “going to have a good deal,” while praising Prime Minister Narendra Modi as a close friend and respected global leader.
India-EU Trade Talks
The European Union has agreed with India to proceed with the signature of a new security and defense partnership between the two parties, said EU Foreign Policy Chief Kaja Kallas.
Japan Exports
Japan’s exports rose for a fourth straight month in December. Total exports by value rose 5.1% year-on-year (YoY) in December following a 6.1% rise in November. Imports grew 5.3% YoY. As a result, Japan ran a trade surplus of 105.7 billion yen ($667.13 million), compared with the forecast of a surplus of 356.6 billion yen.
Gold Prices
Gold and silver prices fell following cooling tensions over Greenland. Gold prices declined 0.8% to $4,793.96 an ounce, while silver prices fell 1.3% to $91.86.
Crude Oil Prices
Crude oil prices steady as geopolitical tensions over Greenland cooled. Brent crude oil rose 0.49% to $65.24 a barrel, while US West Texas Intermediate (WTI) crude futures declined 0.15% to $60.53.
Indian benchmark indices Sensex and Nifty are likely to see a strong opening on January 22, backed by positive cues from GIFT Nifty, which was trading higher at around 25,312.50.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
The Indian equities market extended its losing streak for a third consecutive session on January 21 amid weak global cues, including geopolitical tensions over Greenland and a sharp sell-off in Japanese government debt. The sustained selling pressure pulled the benchmark indices below their 200-day moving averages for the first time in eight months.
At close, the Sensex was down 270.84 points or 0.33 per cent at 81,909.63, and the Nifty was down 75 points or 0.30 per cent at 25,157.50.
The GIFT Nifty is trading higher at around 25,312.50, signaling a gap up opening start for the day.
Asian Equities (Rise)
Asian stocks followed Wall Street higher after US President Donald Trump dropped his tariff threat against European partners, easing trade-war worries.
US Equities (Gain)
Wall Street ended higher on Wednesday, with the S&P 500 posting its largest one-day percentage gain in two months, as investors were buoyed by news that a framework for an agreement on Greenland had been reached and the possibility of new U.S. tariffs on European allies had been averted.
Both the Dow Jones Industrial Average and Nasdaq Composite also enjoyed landmark days, gaining the most in percentage terms since January 5 and December 19, respectively.
The Dow Jones Industrial Average rose 588.64 points, or 1.21%, to 49,077.23, the S&P 500 gained 78.76 points, or 1.16%, to 6,875.62 and the NASDAQ Composite gained 270.50 points, or 1.18%, to 23,224.83.
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