Tuesday, July 16, 2024

Indian Stock Market: 6 Major Shifts Overnight- Nifty, US Treasury Yields, and Gold Rates

Daily Market Update: Indian Equity Market Indices Expected to Open Flat

The Indian stock market is expected to open flat on Tuesday, reflecting positive momentum in global markets. Asian markets traded mostly higher, while the US stock market saw mixed results. Market participants will be closely monitoring the US Federal Reserve Chairman Jerome Powell’s testimony before Congress, as well as important economic data releases later in the week.

Traders are now projecting a higher probability of a rate cut by the US Federal Reserve in the coming months. In India, the benchmark indices, Sensex and Nifty 50, ended the previous session flat due to profit booking and lack of major triggers.

Global market cues suggest a positive opening for the Indian stock market, with Asian markets trading higher and Wall Street closing with record highs. The US dollar strengthened, while treasury yields were mixed. Oil prices steadied after recent fluctuations, and gold prices saw minor gains.

Investors are advised to seek advice from certified experts before making any investment decisions. Stay tuned for the latest updates on the Indian stock market and global financial trends.

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