The Sensex recorded a low opening, down by 137.69 points at 71923.44, while the
Among the Nifty companies, 20 experienced advances, while 30 faced declines.
Indian markets are poised for a relatively quiet opening, influenced by
Varun Aggarwal, founder and managing director, Profit Idea said, "Investors are closely monitoring corporate results and global trends, leading to a shift toward large-cap stocks amid rising valuations in mid and small-cap stocks".
He added, "Despite the soft opening, market sentiments remain robust, backed by India's strong economic activity. The market is responsive to macroeconomic data, global bond yields, and investment activities".
In global news, US Initial Jobless Claims were lower than expected at 202K, while the federal government's gross national debt reached a record USD34 trillion, presenting challenges.
The
US Private sector employment rose by 164,000 in December, exceeding market expectations.
The S&P Global US Composite PMI remained stable at 50.9 in December.
Eurozone and UK PMIs, Germany's stable unemployment rate at 5.9 per cent, and positive economic indicators from Japan and China are also noteworthy.
In India, foreign exchange reserves reached USD 623.20 billion, the Central Bank of India reported a 14.91 per cent YoY growth in gross advances, and the
FPI investments in Indian debt turned positive in 2023, and
UPI transactions in 2023 reached 117.6 billion in volume and Rs 183 trillion in value.
The RBI implemented changes for CPs and NCDs issuance, emphasizing transparency. Insurance companies can now invest in infrastructure debt funds of NBFCs.
As India prepares for the interim budget, insiders suggest fiscal discipline over populist spending. REC signed a pact with Bank of Baroda for joint finance, and India's fiscal deficit for the first eight months stood at 50.7 per cent of annual estimates.
In summary, the financial landscape reflects a mix of global and domestic factors shaping market dynamics and economic outlooks.(ANI)