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Stock Market Updates: Nifty50 and Sensex, started the day marginally lower. Later, the benchmarks recovered and were trading in the positive zone
Stock Market Updates
Sensex Today: Benchmark indices, Nifty50 and Sensex, opened the day on a slightly negative note.
The BSE Sensex began nearly 65 points lower at 76,455.35, while Nifty50 opened 21 points down at 23,183.90.
On the BSE, Power Grid and NTPC were among the top gainers, while Sun Pharma and Zomato were the biggest losers.
Similarly, on the NSE, BPCL and Power Grid gained, while Dr. Reddy’s and Apollo Hospitals faced declines.
Broader markets were trading flat but with a positive bias. Nifty SmallCap rose by 0.01%, while Nifty MidCap saw a slight dip of 0.28%.
Sector-wise, Nifty Pharma was the worst performer, falling over 1.5%.
Investor focus today will be on the December quarter results from major players like JSW Steel, DLF, IndiGo, and Godrej Consumer Products. Additionally, forex data and PMI Manufacturing and Services Flash data for January will also be closely watched.
In global news, the Bank of Japan raised interest rates by 25 basis points to 0.5%, marking the highest level since 2008.
Global Cues
Asia-Pacific markets experienced gains on Friday, following the record highs in the S&P 500 on Thursday, fueled by US President Donald Trump’s calls for lower interest rates and cheaper oil prices.
In Japan, core inflation hit a 16-month high of 3% in December, compared to the previous year, bolstering expectations for a potential rate hike by the Bank of Japan.
The Bank of Japan followed suit by raising rates by 25 basis points to 0.5%, marking the highest level since 2008.
The Nikkei gained 0.46%, while the Kospi rose 0.92%, and the ASX 200 increased by 0.40%. Meanwhile, in Singapore, the central bank adjusted its monetary policy settings downward, in line with expectations amid rising core inflation in December.
In the US, stocks finished higher with all three major indexes in the green. The S&P 500 climbed 0.53%, hitting a new intraday all-time high for the second consecutive session.
The Dow Jones rose 0.92%, and the Nasdaq Composite increased by 0.22%, marking the fourth consecutive winning session for all three indexes.
US jobless claims for the week ending January 18 increased to 223,000, up from 217,000 the previous week. Investors are now looking ahead to the PMI Manufacturing and Services flash data for January.
