The GIFT Nifty indicates that the BSE Sensex and NSE Nifty 50 are likely to open lower on Thursday, January 23.

The stock market ended Wednesday’s session on a positive note, with all major indices closing higher. The NSE Nifty 50 rose 135.85 points or 0.59% to settle at 23,160.50, while the BSE Sensex gained 614.57 points or 0.81%, closing at 76,452.93. The Bank Nifty index also recorded an increase of 153.50 points or 0.32%, ending the day at 48,724.40.

Top cues to watch on January 22, 2025

HDFC Bank ADR

HDFC Bank’s ADR (HDB) saw a significant jump, closing at $60.68, up 3.09% from its previous close of $58.86. The stock moved within a range of $59.75 to $61.27 during the trading session, with around 4.76 million shares changing hands. The rise in HDB’s price was supported by positive sentiment around Indian banking stocks, largely driven by strong quarterly earnings.

Optimism around Trump

Donald Trump’s agenda of easing regulations and cutting corporate taxes has fueled optimism on Wall Street, pushing the S&P 500 to record highs. After a 2.5% dip in December 2024 and a slow start to 2025, easing inflation concerns and renewed confidence in economic growth have fueled a strong rebound for investors.

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US Markets see smart gains

US stocks ended the day on a positive note on Wednesday. The S&P 500 climbed 0.8% on Wednesday, reaching a new intraday high of 6,100.11. This broke its previous record set in December before the market pullback. Tech stocks like Oracle and Nvidia drove the rally, fueled by optimism around artificial intelligence. Investors also seemed positive about President Donald Trump’s new term, adding to the upbeat mood. Further, All three major US indexes closed higher, with the Dow Jones up by 0.30%, the S&P 500 rising 0.61%, and the Nasdaq increasing by 1.31%.

US Dollar slides

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.02% at 108.25 on Wednesday’s morning. The index measures the US dollar’s strength or weakness against major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. Also, the Indian rupee closed at 86.33 against the US Dollar on Tuesday.

Asian Markets mixed

Asia-Pacific markets were trading on a mixed note on Thursday. Japan’s Nikkei 225 was trading 0.35% higher at 38,784.7. The Korean index Kospi trades 1.06% lower at 2,519.97. Australia’s S&P/ASX 200 index opened lower, shedding about 0.40%. Chinese index, Shanghai Composite dropped 0.06% to approximately 3,211.79 points.

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Crude Oil trending lower

WTI crude prices were trading at $78.79, down by 0.19%, while Brent crude prices were trading at $75.29, down by 0.16%, on Wednesday’s morning.

FII, DII Data

On January 22, Foreign Institutional Investors (FIIs) reported a net outflow of Rs 4,026.25 crore with purchases of Rs 12,936.64 crore and sales of Rs 16,962.89 crore. Domestic Institutional Investors (DIIs) saw a net inflow of Rs 3,640.22 crore as their purchases stood at Rs 15,437.18 crore against sales of Rs 11,796.96 crore.