Indian benchmark equity indices ended higher on Tuesday - Nirmal Bang Ltd
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Market Review US:
The S&P 500 closed slightly higher on Tuesday, as investors scrutinized a mixed bag of earnings at big US companies and digested comments from Federal Reserve policy makers for clues about its first planned interest-rate cut.
Asia: Most markets in Asia-Pacific region were trading higher in early trade on Wednesday, taking cues from overnight gains on Wall Street. The S&P ASX 200 was trading 42.80 points or 0.56% higher at 7,624.40, and the KOSPI index 31.35 points or 1.22% up at 2,607.55 as of 6:30 a.m. Bucking the trend, markets in Japan were trading in negative. The Nikkei 225 was 67.64 points or 0.19% lower at 36,093.02 as of 06:31 a.m.
India: Indian benchmark equity indices ended higher on Tuesday, with shares of information technology companies contributing the most to gains. The NSE Nifty 50 closed 157.7 points, or 0.72%, higher at 21,929.4, while the S&P BSE Sensex rose 454.67 points, or 0.63%, to end at 72,186.09. The market is expected to open gap up and likely to witness positive move during the day.
Global Economy: Canadian economic activity expanded at its fastest pace in nine months in January, Ivey Purchasing Managers Index (PMI) data showed on Tuesday. The seasonally adjusted index edged up to 56.5 in January from 56.3 in December, posting its highest level since April.
German industrial orders unexpectedly jumped in December, posting their highest month-on-month increase in more than three years, driven by "an exceptionally" high number of aircraft orders, the federal statistics office said on Tuesday. Orders rose by 8.9% on the previous month on a seasonally and calendar adjusted basis, the largest increase since June 2020. Plane orders boosted the "other vehicle construction" category, which includes aircraft, ships and trains and saw an increase in orders of 110.9% on the month.
Commodities: Gold prices struggled for a clear direction on Wednesday, as traders awaited comments from a slew of Federal Reserve officials this week to assess how soon the U.S. central bank may start cutting interest rates.
Oil prices ticked higher on Wednesday, as growth in US oil production is expected to remain largely steady through 2025, easing worries of excess supply
Currency: The dollar remained under pressure on Wednesday after retreating from a nearly three-month high against the euro in the previous session with a decline in U.S. bond yields adding to the drag.
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