The start of Tuesday’s trading session, which coincided with the weekly close of Nifty, was positive. Sensex was trading with a gain of about 150 points. Nifty also recorded a gain of 70 points. Bank Nifty gained momentum slowly in the beginning, but then recovered. Buying was also seen in the broader market. Strong rise was seen in IT and metal stocks. HCL Tech was the biggest gainer in Nifty 50. Sensex opened at 82,404, up 77 points from the previous close. Nifty remained unchanged at 25,227. Bank Nifty opened 27 points lower at 56,598 and in the currency market the rupee weakened by 7 paise to 88.74/dollar.
Today many important signals emerged from global and domestic markets. While US markets witnessed a strong recovery, gold and silver touched new record levels. Meanwhile, on the domestic front, a significant decline in inflation, listing of LG Electronics and results from several key companies will decide the market direction today.
US markets witnessed a strong rise on Monday amid hopes of easing trade tensions with China and speculation of interest rate cuts. Dow Jones closed with a jump of 600 points. The Nasdaq jumped 500 points to close at its highest level of the day. The S&P 500 posted its biggest gain of 100 points since May 27. The main reasons for this rally were rising expectations of interest rate cuts, softening of US-China relations and strong buying in technology stocks.
Mixed trend in Asian markets
Amid global cues, limited activity was seen in Asian markets today. Nifty was trading stable around 25,325. Dow futures closed with gains of nearly 100 points. Meanwhile, the Nikkei 225 fell 500 points.
rise in gold and silver
Precious metals have seen a rise amid expectations of interest rate cuts and geopolitical uncertainty. In the international market, gold jumped by $ 100 and reached a new all-time high of $ 4,150. Silver jumped 6% and crossed $51 for the first time. Similar growth was seen in the domestic market also. Gold hits new all-time high of ₹1,24,852 on MCX. Silver gained a significant gain of ₹8,000 to cross ₹1,55,000 per kg.
Also keep an eye on crude oil and bond yield
The price of crude oil is currently sluggish, but it remains above $63 per barrel. Meanwhile, 10-year US bond yields hit a three-week low of around 4%, a sign of relief for market sentiment.
