Market Cues: Indian benchmark indices Sensex and Nifty 50 may see a positive start on January 7. GIFT Nifty was trading bullish this morning. Indian equity markets witnessed huge volatility at the beginning of the week. On January 6, benchmark indices fell 1.5 percent. Fears related to human metapneumovirus (HMPV) had a negative impact on investor sentiment. At the end of the trading session, the Sensex closed at 77,964.99, down 1,258.12 points or 1.59 per cent. At the same time, Nifty closed at 23,616.05 with a decline of 388.70 points or 1.62 percent.
gift nifty
GIFT Nifty is seeing a rise, indicating a positive start to the day. Nifty futures were trading at 23,769 in the morning. At present, Gift Nifty is seen at the level of 23,799.50 with an increase of 65 points or 0.27 percent.
Asian market
Asian stocks also gained momentum as Wall Street rose for the second day with the help of technology companies. At present a rise of 2.38 percent is being seen in Nikkei. At the same time, Strait Times is showing a gain of 0.16 percent. However, there is a weakness of 1.83 percent in Hang Seng. Taiwan market is trading with a gain of 1.20 percent. Kospi is up by 0.61 percent. Whereas a decline of 0.46 percent is seen in Shanghai Composite.
US market
The S&P 500 and Nasdaq Composite hit their highest in more than a week on Monday, boosted by a rally in semiconductor stocks and a report. The report indicated that the incoming Trump administration may adopt a less aggressive tariff stance than expected. The Dow Jones Industrial Average fell 25.57 points, or 0.06 percent, to 42,706.56, the S&P 500 rose 32.91 points, or 0.55 percent, to 5,975.38 and the Nasdaq Composite added 243.30 points, or 1.24 percent, to 19,864.98.
Trading strategy: If Nifty remains below 200-day EMA, a fall to 23263 is possible, opening bell, first take a look at these figures.
US bond yield
In early trade on Tuesday, US 10-year treasury fell by 13 basis points to 4.62 per cent and 2-year treasury fell by 5 basis points to 4.27 per cent.
dollar index
The US dollar hit a one-week low against its peer currencies on Tuesday. At present the dollar index is seen at the level of 108.33.
fund flow action
Foreign institutional investors (FIIs) sold equities worth Rs 2,575 crore on January 6, while domestic institutional investors bought equities worth Rs 5,749 crore on the same day.