Stocks to Watch Today as Global Markets Signal Uptrend
Stocks to Watch Today: On Thursday, the US stock markets went up again, marking the third day of gains. This was mainly due to strong performance in technology stocks. Investors were watching company earnings and updates on the US-China trade situation.
- Dow Jones rose by 486.83 points (1.23%)
- S&P 500 jumped 108.91 points (2.03%)
- Nasdaq gained 457.99 points (2.74%)
Also Read: Will India get rid of tariffs? Big update on trade deal
GIFT Nifty Hints at Positive Start for Indian Market
The GIFT Nifty was trading near 24,535 early today, suggesting a strong start for Sensex and Nifty 50. This comes after Indian markets ended lower yesterday.
Indian Market Ended Lower on April 24
On Wednesday, the Sensex dropped by 315.06 points (0.39%) to 79,801.43, and the Nifty 50 lost 82.25 points (0.34%) to close at 24,246.70. Only the metal and pharma sectors managed to avoid losses.
Asian Shares Open Higher
Asian markets opened on a strong note today, following US market optimism. Investors believe the Federal Reserve might cut interest rates earlier than expected. Also, Alphabet Inc. (Google’s parent company) reported solid results, boosting investor confidence.
Bond Yields Stay Steady
US bond yields remained mostly unchanged in early Friday trading. The 10-year and 2-year Treasury yields did not show much movement.
Dollar Index Inches Higher
The US Dollar index saw a slight rise today, after slipping a bit yesterday. Traders are uncertain due to unclear trade policy signals and the Federal Reserve's decisions.
Asian Currencies Show Mixed Trend
Asian currencies were trading both up and down this morning.
- Losers: Malaysian Ringgit, Singapore Dollar, Japanese Yen
- Gainers: Philippines Peso, Thai Baht, Taiwan Dollar
Crude Oil Prices Slightly Up
Oil prices went up a little today. However, they may still end the week lower due to possible higher supply from OPEC+ and a ceasefire in the Russia-Ukraine war. Demand concerns are also affecting the outlook.
Gold Moves Towards Weekly Gain
Gold prices are heading for a weekly rise after some ups and downs. Investors are watching trade tensions and US rate cut possibilities.
FIIs Pump in Funds, DIIs Book Profit
On April 24:
- Foreign Institutional Investors (FIIs) bought stocks worth Rs.8,250 crore.
- Domestic Institutional Investors (DIIs) sold stocks worth Rs.534 crore.
Also Read: Bank Nifty Falls After 6-Day Rally; Canara, HDFC Bank Among Top Losers
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