Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open on a tepid note on Tuesday following mixed global market cues.

Asian markets traded mostly higher, while the US stock market was closed on account of President’s Day.

On Monday, the Indian stock market ended marginally higher, with the benchmark indices breaking the eight-day losing streak.

The Sensex gained 57.65 points, or 0.08%, to close at 75,996.86, while the Nifty 50 settled 30.25 points, or 0.13%, higher at 22,959.50.

“Markets eked out modest gains in late recovery in a highly volatile trade, but most importantly it managed to halt the 8-session losing streak. Positive Asian and European indices aided sentiment, while gains in select banking, oil & gas, metals and power stocks helped local benchmarks recover from their early lows,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Tuesday, tracking gains in European markets. Japan’s Nikkei 225 gained 0.28%, while the Topix index rose 0.37%. South Korea’s Kospi was marginally higher, while the Kosdaq fell 0.18%. Hong Kong’s Hang Seng index indicated a higher opening.

Gift Nifty Today

Gift Nifty was trading around 23,006 level, a discount of nearly 20 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

Wall Street

US stock markets were closed on Monday, February 17, for President’s Day 2025, to mark the birth anniversary of the first US President George Washington.

Xi Jinping Promises Policy Stability

China’s President Xi Jinping met with private sector business leaders on Monday, offering them assurances that policies regarding the private sector would not change, as government officials work to revive an economy disrupted by a pandemic, regulatory crackdowns and a real estate crisis, state media reported.

Crude Oil Prices

Crude oil prices steadied after rising in the previous session as OPEC group was considering delaying restoring output. Brent crude oil eased 0.03% to $75.20 a barrel, while the US West Texas Intermediate (WTI) crude futures rose 0.71% to $71.24.

Gold Prices

Gold prices traded higher led by safe-haven appeal amid fears of a potential global trade war. Spot gold rose 0.1% to $2,898.99, while US gold futures gained 0.4% to $2,912.60.

US Dollar

The dollar index was flat at 106.76, after tumbling 1.2% last week. The dollar fell 0.58% against the yen at 151.44. The euro eased 0.1% to $1.0482, while Sterling was up 0.1% at $1.2596.

(With inputs from Reuters)

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