Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, following upbeat trend in the global markets after Donald Trump was sworn-in as US President.

Asian markets traded higher, while the US stock futures gained after President Donald Trump held off from imposing sweeping trade tariffs in his first day in office.

Trump signed the first orders of his second presidential term, including withdrawing the US from the Paris climate accords.

On Monday, the Indian stock market ended higher, led by a strong rally in banking and metal stocks.

The Sensex gained 454.11 points, or 0.59%, to close at 77,073.44, while the Nifty 50 settled 141.55 points, or 0.61%, higher at 23,344.75.

“Optimism across most of the Asian and European markets ahead of Trump taking charge as the US President today weighed positively on Indian benchmarks as well, with banking and telecom stocks leading the recovery. While it was just a sentimental impact, the undertone continues to be of uncertainty marked with extreme volatility,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Local investors will be more focused on the Union Budget to be announced on February 1 and what measures would FM take to address the ongoing slowdown and Trump’s trade policies, he added.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Tuesday as investors await clarity on US President Donald Trump’s policies.

Japan’s Nikkei 225 rose 0.52%, while the Topix gained 0.33%. South Korea’s Kospi rallied 0.97%, while the Kosdaq advanced 0.62%. Hong Kong’s Hang Seng index futures indicated a stronger opening.

Gift Nifty Today

Gift Nifty was trading around 23,410 level, a premium of nearly 10 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.

Wall Street

US stock markets were closed on Monday, January 20, on account of Martin Luther King Jr. Day holiday. US stock futures gained after President Donald Trump was sworn in for his second term. Futures tied to the S&P 500 rose 0.5%, while Nasdaq 100 futures rallied 0.6%. Dow Jones Industrial Average futures gained 0.5%.

Donald Trump Inauguration

Donald Trump was sworn in as the 47th president of the United States on Monday, January 20, marking his historic return to the White House. In his inaugural address, President Trump vowed to revamp US trade, promising tariffs and taxes on other countries to aid Americans.

Dollar Rate

The dollar nursed broad losses on Tuesday after U.S. President Donald Trump stopped short of imposing new tariffs, Reuters reported.

The dollar index, which measures the US currency against six others, fell 1.2% on Monday in the sharpest daily loss since late 2023, and last stood at 108.010. The euro was up at $1.0421, having rallied 1.4% overnight, while the dollar eased to 7.2624 yuan. Against the Japanese yen, dollar dipped 0.4% overnight and was at 155.30.

Bitcoin Price Today

Bitcoin prices surged past the $109,000 mark to hit its all-time high of $109,114.88 as the pro-crypto Donald Trump assumed the US presidency. The world’s largest cryptocurrency gained 1.33% in the past 24 hours and was trading around $101,040.76.

Oil Prices

Crude oil prices traded lower. Brent crude oil fell 0.32% to $79.89 a barrel, while the US West Texas Intermediate (WTI) crude futures dropped 1.46% to $76.74.

(With inputs from Reuters)

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