GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are poised to see a muted start on Friday. Also, Asian markets opened majorly on a higher note in early trade hours.
Previously, on Thursday, the NSE Nifty 50 closed the session 86.40 points or 0.37% higher at 23,249.50, while the BSE Sensex rose 226.85 points or 0.30% to close at 76,759.81.
Key global and domestic cues to know on January 31, 2024
Asia Markets
Asia markets traded mostly on a higher note tracking overnight gains of Wall Street. Japan’s Nikkei 225 was trading 0.02% higher at 39,523.83. The Asia Dow was trading 0.13% higher at 3,773.45. However, the Korean index Kospi slid 0.96% in early trade hours to 2,512.88, opening after a gap of 4 days.
US markets
The US markets closed Thursday’s trade on a positive note. The S&P 500 closed the session 0.53% higher at 6,071.17. The technology-heavy Nasdaq Composite rose 0.25% to end at 19,681.75. The Dow Jones Industrial Average gained 168.61 points, or 0.38%, to 44,882.13.
Trump’s tariff card
US President Donald Trump said that he will implement a 25% tariff on Canada and Mexico starting Saturday, although he is still considering whether to apply his tariffs to oil imported from those nations. “We may or may not,” said Trump, reported AP. “We’re going to make that determination probably tonight.”
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.32% at 108.15 on Friday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee depreciated 0.07% to close at 86.62 to the dollar on January 30.
Crude oil
WTI crude prices were trading at $73.14 up by 0.57%, while Brent crude prices were trading at $76.15 up by 0.34%, on Friday morning.
FII, DII data
Foreign institutional investors (FII) were the net sellers of shares net worth Rs 4,582.95 crore. Meanwhile, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 2,165.89 crore on January 30, 2024, according to the provisional data available on the NSE.
Quarterly results
ONGC, IndusInd Bank, Nestle India, Punjab National Bank, Sun Pharmaceutical, Bandhan Bank, Vedanta, UPL, Aster DM Healthcare, City Union Bank, Cholamandalam Investment, Equitas Small Finance Bank, Flair Writing Industries, Inox Wind, Godrej Agrovet, IRB Infrastructure Developers, Jyothy Labs, Jubilant Pharmova, Karnataka Bank, Marico, Pfizer, LIC Housing Finance, Poonawalla Fincorp, Vishal Mega Mart, and other companies will report their quarterly earnings for Q3 FY25 on January 31.