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Sensex jumps over 350 pts, Nifty above 26,250 as earnings buzz builds
The Economic Times· 2026-01-02 04:03
Market Overview - The BSE Sensex rose over 400 points, trading above 85,600, while the NSE Nifty50 added 100 points, trading above 26,250, nearing its previous all-time high of 26,325 [12] - Broader market sentiment was mildly positive, with small-cap stocks up 0.2% and mid-cap shares advancing 0.4% [3][12] Auto Industry - The auto sector index rose 0.8%, driven by gains of about 2% in Hero MotoCorp and TVS Motor, following a 25.8% year-on-year increase in passenger vehicle sales in December [4][12] - Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, emphasized the importance of sustaining growth momentum in the economy for earnings growth [4] Consumer Goods - ITC shares slid 5%, extending a selloff after a 10% drop in the previous session due to brokerage downgrades and pressure from the government's cigarette tax increase, impacting the fast-moving consumer goods index, which fell 1.4% [12] Institutional Investment - Foreign Institutional Investors (FIIs) sold equities worth nearly Rs 3,269 crore on January 1, while Domestic Institutional Investors (DIIs) were net buyers of Rs 1,526 crore [5][12] Global Market Trends - Stocks opened 2026 on a firmer footing, with MSCI's Asia-Pacific index excluding Japan rising 0.66% and Hong Kong's Hang Seng Index climbing 1.24% [8] - Precious metals continued their strong performance, with spot gold rising 0.9% to $4,351.70 an ounce and silver jumping 2% to $72.63 [7][8] Oil Market - Oil prices inched higher, with Brent crude futures rising 14 cents to $60.99 a barrel and U.S. West Texas Intermediate crude gaining 14 cents to $57.56 a barrel, following geopolitical risks resurfacing [9][12] Currency Movements - The Indian rupee edged up 6 paise to 89.92 against the U.S. dollar, reflecting a cautious investor stance at the start of the New Year [10][12]
Futures Pointing To Roughly Flat Open On Wall Street
RTTNews· 2025-10-07 12:51
Market Overview - Major U.S. index futures indicate a flat open on Tuesday, with stocks showing a lack of direction after a mostly higher previous session [1] - Traders are cautious due to the ongoing government shutdown and the absence of significant U.S. economic data [2][6] Stock Performance - Stocks moved mostly higher on Monday, with the Nasdaq and S&P 500 reaching new record closing highs; Nasdaq rose by 161.81 points (0.7%) to 22,941.67 and S&P 500 increased by 24.49 points (0.4%) to 6,740.28, while the Dow fell by 63.31 points (0.1%) to 46,694.97 [3] - Semiconductor stocks led the rally, with the Philadelphia Semiconductor index surging by 2.9% to a record closing high, driven by Advanced Micro Devices (AMD) which soared by 23.7% following a significant agreement with OpenAI [4] Commodity and Currency Markets - Crude oil futures decreased by $0.13 to $61.56 per barrel after a previous increase [7] - Gold futures rose by $11.70 to $3,988 per ounce after a prior surge [7] - The U.S. dollar traded at 159.88 yen and $1.1664 against the euro, showing fluctuations compared to previous trading sessions [7] Asian Market Insights - Asian stocks ended mixed, with Japanese markets flat despite data showing household spending rose faster than expected; the Nikkei 225 Index ended at 47,950.88 [8][9] - Australian markets declined, with the S&P/ASX 200 Index slipping 0.3% to 8,956.80 amid falling consumer confidence [10][11] European Market Developments - European shares were subdued due to a political crisis in France and weak factory orders data from Germany; German factory orders decreased by 0.8% in August [12][13] - Healthcare stocks in Europe faced declines, while British oil giant Shell rose nearly 2% after updating its outlook [14][15]