The Indian stock market is expected to open on a positive note today, tracking the gains on Wall Street. The Gift Nifty futures are trading higher, indicating a positive start for the Indian indices. While Wall Street closed higher, Asian markets opened lower on Wednesday.
The Sensex and Nifty are likely to open cautiously, with investors closely monitoring statements from US Federal Reserve officials regarding potential interest rate changes. The markets are also awaiting the release of the FOMC meeting minutes.
In the US, all three major indexes advanced, with the S&P 500 and Nasdaq reaching all-time closing highs. The market is anticipating Nvidia Corp’s quarterly results and the release of the FOMC meeting minutes on Wednesday.
European shares ended slightly lower, easing back from record highs, as investors awaited economic data and remained cautious over central bank policy.
US Treasury yields dipped as investors awaited the Fed minutes for clues on the timing of rate cuts. The dollar held firm against a basket of world currencies, while cryptocurrencies climbed amid signs of a potential spot ether exchange-traded fund approval.
Oil prices dipped, extending losses, as concerns over lingering inflation and higher interest rates raised worries about dampening demand. Gold prices also backed away from an all-time high as the greenback remained steady.
Overall, the Indian stock market is likely to track the positive sentiment from Wall Street at the open, with investors keeping a close watch on global cues and key events this week.
