GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are poised to see a subdued start on Thursday as Asian markets opened on a muted note in early trade hours. 

Previously, on Wednesday, the NSE Nifty 50 closed the session 205.85 points or 0.90% higher at 23,163.10, while the BSE Sensex rose 631.55 points or 0.83% to close at 76,532.96.

Key global and domestic cues to know on January 30, 2024

Asia Markets

Asia markets bucked the trend of Wall Street after Fed chair Jerome Powell kept the key interest rate unchanged. The Australian markets opened on a higher note, with the S&P/ASX 200 rose 0.37%. Japan’s Nikkei 225 was trading flat at 39,427. The Asia Dow was trading 0.41% higher at 3,762.95. Many Asia Pacific stock markets remained closed on account of the Lunar New Year Holiday. 

US markets

The US markets fell after the Federal Reserve kept the interest unchanged. The S&P 500 closed the session 0.47% lower at 6,039.31. The technology-heavy Nasdaq Composite lost 0.51% to end at 19,632.32. The Dow Jones Industrial Average declined 136.83 points, or 0.31%, to 44,713.52. 

US Fed FOMC

The Federal Reserve maintained the current interest rates during its January Federal Open Market Committee (FOMC) meeting. The meeting, held over two days (January 28–29), concluded with Fed Chair Jerome Powell announcing the decision on Wednesday, reversing the trend of easing policy. The central bank’s FOMC left unchanged its overnight borrowing rate in a range between 4.25%-4.5%.

US dollar 

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.07% at 107.88 on Thursday 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 0.01% to close at 86.55 to the dollar on January 29. 

Crude oil

WTI crude prices were trading at $72.76 up by 0.20%, while Brent crude prices were trading at $76.66 up by 0.11%, on Thursday morning. 

Critical Mineral Mission

The Union Cabinet has approved the launch of the National Critical Mineral Mission (NCMM) with an expenditure of Rs.16,300 crore and expected investment of Rs.18,000 crore by PSUs, etc. To establish an effective framework for India’s self-reliance in the critical mineral sector this mission is launched. The NCMM will encompass all stages of the value chain, including mineral exploration, mining, beneficiation, processing, and recovery from end-of-life products. The mission will intensify the exploration of critical minerals within the country and in its offshore areas. 

FII, DII data

Foreign institutional investors (FII) were the net sellers of shares net worth Rs 2,586.43 crore. Meanwhile, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 1,792.71 crore on January 29, 2024, according to the provisional data available on the NSE.

Quarterly results

Adani Enterprises, Adani Ports and SEZ, Larsen & Toubro, Bajaj Finserv, GAIL (India), Bank of Baroda, Shree Cement, PB Fintech, Astral, Bharat Electronics, Biocon, AAVAS Financiers, CARE Ratings, Coromandel International, Indegene, Jindal Steel & Power, Dabur India, Kalyan Jewellers India, Navin Fluorine International, Dr Lal PathLabs, Phoenix Mills, Prestige Estates Projects, Waaree Energies, and Voltamp Transformers will report their quarterly earnings for Q3 FY25 on January 30.