Kolkata: How will the Indian stock market open on Tuesday, May 27? The global cues appear to be mixed while the Indian rupee has risen in two successive trading sessions against the US Dollar. FPI inflows in May have been at a eight month high. Sensex 30 ended at 82,176.45 points on Monday, May 26, up 455.37 points or 0.56%, while Nifty 50 settled at 25,001.15 points after rising 148.00 points or 0.60% today. Let’s check the triggers for the market today.
Mixed global cues
The global cues appear to be rather mixed on Tuesday morning. The key Asian market indices are a mixed bag — GIFT Nifty was marginally in the red (0.07%) around 7:30 am. Nikkei, Shanghai, KOSPI and Taiwan weighted index were trading in the red, while Straits Times and Hang Seng were in the green. Among the key European indices French CAC and DAX ended in the green on Monday while the London Stock Exchange was closed. Among the US indices, Dow Jones ended in the green (0.87%) while Nasdaq and S&P500 ended in the red, down 1% and 0.67% respectively. Brent Crude ended slightly higher on Monday.
The rupee and FPI inflows
The rising Indian rupee also holds out a positive signal for the markets. The Indian currency surged 35 paise to close at 85.10 against the US dollar on May 26. Forex traders maintained that the inflow of FPI flows and the RBI’s decision to pay a record dividend of Rs 2.69 lakh crore to the Centre boosted the local currency.
Incidentally, there has been a remarkable rise in FPI investment in India in the month of May in which four trading days are still left. The amount is in the region of Rs 14,256 crore. The FPI inflow in this month is the highest in eight months notwithstanding the volatility and global drags. Analysts are have attributed this rebound to a cessation of India-Pakistan hostilities, several block deals and a hope that the tariff war unleashed by US President Donald Trump might be resolved before long. The US Dollar has weakened and the slide in the Dollar index has also helped the Indian markets.
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The Asian market indices were mostly in the red this morning. While the FPI inflows have been at a eight month high this month, support came in also from a weaker dollar and rise of the Indian currency against the greenback. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
