Last Updated:
Indian benchmark indices, BSE Sensex and Nifty50, opened higher on Tuesday, buoyed by mixed global cues.
Sensex Today.
Indian benchmark equity indices, the BSE Sensex and Nifty50, were trading higher on Tuesday amid mixed global cues.
At 10 AM, the BSE Sensex was up by 335.04 points, or 0.44%, at 76,665, while the Nifty50 stood at 23,184, gaining 98.85 points, or 0.43%.
Following the opening bell, 22 out of the 30 Sensex stocks were trading in the green, with Zomato leading the gains (up 3.50%), followed by Tata Motors, IndusInd Bank, NTPC, and Adani Ports & SEZ. On the other hand, the losses were led by HCLTech (down 9.35%), followed by Tech Mahindra, Infosys, TCS, and Hindustan Unilever.
On the Nifty50, 35 stocks were in the positive territory, with Adani Enterprises leading the pack (up 3.51%), followed by Tata Motors, IndusInd Bank, NTPC, and Adani Ports. The biggest laggards were HCLTech (down 9.34%), followed by Tech Mahindra, Wipro, Infosys, and TCS.
Among sectors, the IT index was the biggest drag, falling 2.11%, followed by the FMCG index, which declined by 0.50%. Conversely, the Metal index was the top gainer, rising 2.75%, followed by the PSU Bank index, which was up by 2.26%.
Additionally, the Auto, Bank, Financial Services, Media, Private Bank, and Oil indices were all up by more than 1% each.
The broader markets also showed strength, with the Nifty Midcap 100 rising 1.48% and the Nifty Smallcap 100 gaining 0.98%.
Global Cues
Markets in the Asia-Pacific region traded mixed on Tuesday, following a mixed session on Wall Street.
- Australia’s S&P/ASX 200 gained 0.26%.
- Japan’s Nikkei 225 fell by 1.54%, and the Topix dropped by 1.10%.
- South Korea’s Kospi edged down by 0.08%, while the Kosdaq rose by 0.25%.
- Hong Kong’s Hang Seng index was up 0.57%, and mainland China’s CSI 300 rose by 0.5%. The Shanghai Composite gained 0.59%.
Japan’s 40-year government bond yield rose to 2.755%, the highest since 2007, according to data from LSEG.
Global stock indices mostly saw declines on Monday, with US Treasury 10-year yields reaching 14-month highs. A resilient US economy and ongoing inflationary pressures led investors to consider the possibility that the Federal Reserve may pause its easing cycle.
The US dollar index surged to its highest level in over two years. While the Nasdaq dropped, the benchmark S&P 500 recovered from a two-month low to finish with a slight gain.
Investors are closely watching Wednesday’s US Consumer Price Index (CPI) data. Any upside surprises in the report could heighten concerns that the Fed may halt its rate cuts. A Reuters poll of economists anticipates a median forecast of a 2.9% annual rise, up from November’s 2.7%, with a monthly increase of 0.3%.
US producer prices data is also due on Tuesday.
On Friday, the US nonfarm payrolls report showed a stronger-than-expected gain of 256,000 jobs in December, the largest increase since March, well above the anticipated 160,000 rise.
Investors are also concerned about potential inflationary impacts from US President-elect Donald Trump’s policies on tariffs, migration, and taxes.
Markets are currently pricing in around 27 basis points of cuts from the Fed this year, with a 52.9% probability of a rate cut in June. The next Fed policy meeting is scheduled for January 28-29.