From HDFC Bank ADR gains to Trump’s economic agenda, here are the top cues influencing global and Indian markets on January 23.
January 23, 2025: Markets Set to Open Lower: 7 Key Factors to Monitor Today
The GIFT Nifty suggests that Indian markets, including the BSE Sensex and NSE Nifty 50, may open lower on Thursday, January 23. The stock market had closed Wednesday on a positive note, with major indices showing gains. The NSE Nifty 50 rose 0.59% to settle at 23,160.50, while the BSE Sensex surged 0.81%, closing at 76,452.93. The Bank Nifty also recorded an uptick, ending at 48,724.40.
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Key Market Cues for January 23, 2025
1. HDFC Bank ADR Performance
HDFC Bank’s ADR (HDB) closed at $60.68, marking a 3.09% gain from its previous close. Positive sentiment around Indian banking stocks, fueled by strong quarterly earnings, drove this uptick. The ADR traded within a range of $59.75 to $61.27, with 4.76 million shares exchanged during the session.
2. Optimism Around Trump’s Policies
President Donald Trump’s pro-business agenda, including regulatory easing and corporate tax cuts, has fueled Wall Street optimism. After a sluggish start to 2025, easing inflation concerns and confidence in economic growth have led to a robust rebound in US markets.
3. US Market Rally
The S&P 500 hit a new intraday high of 6,100.11, supported by strong performances from tech giants like Oracle and Nvidia. The Dow Jones rose 0.30%, the S&P 500 gained 0.61%, and the Nasdaq climbed 1.31%. Optimism surrounding Trump’s new term added to the positive momentum.
4. US Dollar Trends
The US Dollar Index (DXY) rose 0.02% to 108.25 on Wednesday. Meanwhile, the Indian rupee closed at 86.33 against the US dollar, reflecting marginal stability amidst global currency fluctuations.
5. Mixed Performance in Asian Markets
Asia-Pacific markets opened mixed on Thursday. Japan’s Nikkei 225 rose 0.35% to 38,784.7, while South Korea’s Kospi fell 1.06% to 2,519.97. Australia’s S&P/ASX 200 shed 0.40%, and China’s Shanghai Composite dropped 0.06% to 3,211.79 points.
6. Declining Crude Oil Prices
WTI crude prices fell to $78.79, down 0.19%, while Brent crude traded at $75.29, down 0.16%. Sluggish demand expectations continue to pressure oil prices globally.
7. FII and DII Activity
On January 22, Foreign Institutional Investors (FIIs) reported a net outflow of ₹4,026.25 crore, while Domestic Institutional Investors (DIIs) recorded a net inflow of ₹3,640.22 crore. This mixed activity reflects cautious sentiment among market participants.
Conclusion
With global markets showing mixed cues and factors like crude oil prices and institutional activity influencing sentiment, investors are advised to exercise caution. HDFC Bank ADR’s positive movement and Trump’s economic policies may provide some relief, but overall market trends are expected to remain subdued. Stay tuned for further developments as the trading day unfolds.
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Stock Market, HDFC Bank ADR, Trump Policies, US Market Trends, Asian Markets, Crude Oil Prices, FII DII Data, GIFT Nifty