The Indian stock market is expected to open on a cautious note. In the previous session, the NSE Nifty 50 settled at 22,959.50, reflecting a modest gain of 0.13%, while the BSE Sensex inched up by 0.08% to close at 75,996.86. Nifty 50 is trading at it’s support area, and possiblity of revesal is very high as per past record.
Across Asian stock markets, performance remains mixed. Japan’s Nikki index traded 121 point up, Sanghai index traded sightly green. Japan’s economy outperformed expectations, posting an annualized growth rate of 2.8% in the last quarter, signaling strong economic momentum. Meanwhile, the Indian rupee may come under pressure due to increased dollar demand, driven by the maturity of positions in the non-deliverable forwards (NDF) market and a decline in regional currencies.
The GIFT Nifty, which tracks the Nifty 50 on the NSE International Exchange, is showing a slight dip in pre-market trading. This indicates cautious investor sentiment, potentially shaped by global economic trends and domestic financial conditions.
Analysts recommend closely monitoring global stock market cues, particularly developments in Asian economies and currency fluctuations, as these factors are expected to play a key role in shaping market movements in the near term.