Kolkata: Will the Indian stock market open today on a positive note as contrasted with the trading on Tuesday when the activity was marked by volatility and the indices significantly ending in the red? The cues are positive on Wednesday morning and if morning shows the day, the mood of the investors could be slightly better.
The positive sentiments could come from the global markets. All three US market indices closed in the green — Dow Jones up 0.05%, S&P500 jumped 2.05% and Nasdaq surged 2.47%. In Europe FTSE and DAX closed in the green up by 0.68% and 0.82% while CAC ended in the red by 0.02%. The Asian markets had a positive opening on Wednesday. Nikkei, Straits Times, Hang Seng, Taiwan Weighted, KOSPI and Shanghai composite were trading in the green. Only GIFT Nifty was marginally down by 0.04%.
Reversing the two-day rally, Indian stock market indices declined on Tuesday, May 27, which as mostly attributable to investors booking profits in banking, IT and auto stocks. BSE Sensex 30 slipped 624.82 points (0.76%) to end the day at 81,551.63 points, while NSE Nifty 50 dipped 174.95 points (0.70%) to close at 24,826.20.m Among the prominent laggards were UltraTech Cement, ITC Tata Motors, NTPC, Axis Bank, HCL Tech, Mahindra & Mahindra, HDFC Bank, ICICI Bank and Eternal.
The rupee ended a two-day rise and declined 30 paise to settle at 85.40 against the US dollar on May 27. The dollar regained some strength against the major currencies and this recovery, in turn, was triggered by a rebound in US bonds. The sentiment in the Indian equity market and lukewarm FII inflows added to the woes of the Indian currency.
On the other hand, there is mixed news on the FDI front. FDI in India declined 24.5% (year-on-year) to touch $9.34 billion in Q4 of FY25 but rose 13% at $50 billion in FY25 compared against FY24.
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The global cues appeared positive on Wednesday morning with almost all Asian markets trading in the green and all the three US indices closed in the green on Tuesday with two of them surging by more than 2%. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
