Stock Market Today: In spite of conflicting global cues, the main Indian indices BSE Sensex and NSE Nifty 50 are expected to open higher. As Nifty futures traded 0.43% higher at 18506 on the Singapore Exchange, SGX Nifty suggested that domestic shares were off to a good start. After Wall Street closed higher, markets in the Asia-Pacific region traded in a mixed bag as global bonds modestly increased as a result of the Bank of Japan adjusting its yield curve control tolerance.
Japan’s Nikkei 225 and South Korea’s Kospi lost early gains in Stock Market Today
The Nikkei 225 in Japan dropped 0.98%, and the Kospi in South Korea lost early gains to trade flat. The Hang Seng index in Hong Kong gained 0.5%. In the US, markets just managed a gain overnight, breaking a four-day losing run as the Dow Jones increased by 0.28%, the S&P 500 increased by 0.11%, and the Nasdaq dipped by 0.01%.
Stock Market Today: RBI MPC minutes to be released today
Investors will be watching today’s release of the RBI MPC minutes. Fitch Ratings announced on December 20 that it had maintained India’s “stable outlook” and had affirmed the country’s long-term foreign-currency issuer default rating (IDR) at “BBB-.” According to the New York-based rating agency, India’s rating reflects “strengths from a robust growth outlook compared to peers and still-resilient external finances,” which have helped India get through the significant external shocks over the last year. The organisation predicts that India’s economy would expand at a rate of 7% in the fiscal year that ends in March 2023.
Asian Market
After Wall Street snapped its four-day losing run, markets in the Asia-Pacific region traded mixed as global bonds increased following the Bank of Japan’s adjustment to its yield curve control tolerance. The Nikkei 225 sank 0.98 percent, and the Topix fell 0.65 percent, as Japan’s losses entered their second day. South Korea’s Kospi lost early gains and was flat. The S&P/ASX 200 in Australia and the Hang Seng index in Hong Kong both increased in morning trading by 0.5% and 1.39%, respectively.
SGX Nifty in green
The SGX Nifty trends point to a promising start for the Indian stock market. On the Singaporean exchange, the Nifty futures were trading 66 points higher at at 18492 levels. The Nasdaq Composite increased 1.08 points, or 0.01 percent, to 10547.11, the S&P 500 increased 3.96 points, or 0.10 percent, to 3821.62, and the Dow Jones Industrial Average increased 92.2 points, or 0.28 percent, to 32849.74.
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