Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, following positive global cues amid optimism over US-China trade talks.
Asian markets traded higher, while the US stock market ended flat overnight as investors await the outcome of the trade talks between the US and China.
On Monday, the Indian stock market ended higher, extending gains to the fourth consecutive session, led by across-the-board buying amid largely positive global cues.
The Sensex rallied 256.22 points, or 0.31%, to close at 82,445.21, while the Nifty 50 settled 100.15 points, or 0.40%, higher at 25,103.20.
“We maintain our bullish outlook and recommend a focus on selective stock picking during any intermediate consolidation or dip. At the same time, participants should exercise caution, especially in the small- and mid-cap segments, which are currently buoyed by strong domestic flows and sentiment. Emphasis should remain on themes and stocks where the risk-to-reward ratio continues to be favorable,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded higher on Tuesday as investors awaited further details on the US-China trade talks. Japan’s Nikkei 225 rallied 0.51%, while the Topix index gained 0.3%. South Korea’s Kospi rose 0.32%, and Kosdaq added 0.28%. Hong Kong’s Hang Seng index futures indicated a weaker opening.
Gift Nifty Today
Gift Nifty was trading around 25,245 level, a premium of nearly 63 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
Wall Street
US stock market ended marginally higher on Monday as investors watched US-China negotiations aimed at mending a trade dispute.
The Dow Jones Industrial Average ended unchanged at 42,761.76, while the S&P 500 rose 0.09% to 6,005.88. The Nasdaq closed 0.31% higher at 19,591.24.
Apple share price fell 1.2%, Nvidia stock price gained 0.64%, while Amazon and Google shares each rose more than 1%. Tesla share price rallied 4.55%. Warner Bros Discovery shares fell about 3% and McDonald’s stock price dropped 0.8%. Robinhood Markets shares declined almost 2%.
US-China Trade Talks
Top US and Chinese officials will resume trade talks for a second day in London on Tuesday, hoping to secure a breakthrough over export control, Reuters reported. The two sides met at the ornate Lancaster House in the British capital on Monday to discuss disagreements around the Geneva deal. US President Donald Trump said his administration was “doing well” in the negotiations and noted positive reports from the talks.
Dollar
The US dollar weakened against most major currencies on Monday. The dollar index, a gauge of the greenback’s value against six major currencies, dipped 0.2% to 98.942. The dollar was down about 0.2% against the Japanese currency at 144.55 yen. China’s offshore yuan was little changed at 7.18 per dollar. Sterling added 0.3% to $1.362, while the euro rose 0.3% to $1.1427.
Gold Prices
Gold prices remained steady as investors monitored ongoing US-China trade discussions. Spot gold prices fell 0.2% to $3,322.07 an ounce, while US gold futures declined 0.4% to $3,341.90.
Crude Oil Prices
Crude oil prices rose as market participants waited for the outcome of US-China talks. Brent crude futures gained 0.13% to $67.13 a barrel, while US West Texas Intermediate crude rose 0.17% to $65.40, after hitting its highest since April 4 earlier in the session.
(With inputs from Reuters)
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