Markets Wrap – Tue, 17 Jan ‘23: Stocks surge, rupee falls; Asia, Europe markets, Gold, Crude, Crypto updates

2023-05-29

Indian benchmark indices ended nearly 1% higher on Tuesday amid mixed global cues. NSE Nifty 50 closed at 18,055 levels, up 160 points or 0.9%, whereas the S&P BSE Sensex closed at 60,655 levels, up 562 points or 0.9%. L&T, HUL, HDFC, HCL Technologies and HDFC Bank were among the top gainers on the Nifty, while SBI, IndusInd Bank, Bajaj Finserv, Wipro and Bajaj Finance were the losers. “The Nifty witnessed a late surge which helped it to close with gains of 158 points. More importantly it has managed to close above the 20 day moving average (18035) which is a sign of strength. The daily and hourly momentum indicator has a positive crossover which is a buy signal. Thus, all parameters are suggesting towards a sharp up move over the next few trading sessions,” said Jatin Gedia, Technical Analyst at LKP Securities.

Indian stock market

The BSE Sensex gained 562.75 points or 0.94% to end at 60,655.72, and the Nifty settled 158.50 points or 0.89% higher at 18,053.30. India VIX, the volatility gauge, eased below 2%. Sectorally, oil & gas, realty, energy, infra, power, capital goods and FMCG gained 1% each, while PSU bank index shed 2%. In the broader markets, BSE midcap and smallcap indices ended flat. Among individual stocks, shares of Siemens jumped over 3% after it signed a Rs 26,000-crore contract to manufacture 1,200 electric freight locomotives for the Indian Railways.

Asian Markets

Asian markets concluded Tuesday’s session on a mixed note. China’s Shanghai Composite index ended 3.35 pts or 0.01% lower at 3,224.24. Hong Kong’s Hang Seng index fell 169 pts or 0.78% to 21,577.64, while Japan’s Nikkei 225 gained 316.36 pts or 1.23% to 26,138.68. Sourth Korea’s KOSPI fell 20.47 pts or 0.85% to 2,379.39.

European Markets

European markets were muted on Tuesday, with concerns about the global economy high on the agenda at the World Economic Forum in Davos this week. England’s FTSE100 was trading at 7,844.52, down 15.74 pts or 0.20% at 3:55 PM (IST). Europe’s Euronext100 was down 4.77 pts or 0.36% at 1,323.98. France’s CAC was trading 15.09 pts or 0.21% lower at 7,028.27. Germany’s DAX was down 38.11 pts or 0.26% at 15,094.21.

US Markets

US Stock futures traded lower Tuesday as investors attempted to keep building on early 2023 momentum and looked ahead to more corporate earnings. Futures tied to the Dow Jones Industrial Average lost 75 points, or 0.2%. S&P 500 futures dropped 0.3%, while Nasdaq-100 futures slid 0.4%.

Rupee movement

Rupee falls 19 paise to close at 81.77 against US dollar Mumbai, Jan 17 (PTI) The rupee settled 19 paise lower at 81.77 (provisional) against the US dollar on Tuesday, tracking a rebound in the greenback overseas and firm crude oil prices.

Gold, Silver

Gold price fell Rs 130 to Rs 56,680 per 10 grams in the national capital on Tuesday amid weak global trends. In the overseas market, both gold and silver were trading in red at USD 1,911 per ounce and USD 24.03 per ounce, respectively. Gold futures on the multi-commodity exchange for February delivery were trading at 56482.00 down 130 points or 0.23%. Silver futures for March delivery were down 371 pts or 0.53% at 69752.00 at 4:05 PM (IST).

Crude oil

WTI Crude futures for February delivery were down 0.31% at $79.60, while Brent Crude futures for March delivery were trading 0.53% higher at $84.95 at 4:05 PM (IST).

Cryptocurrency

Bitcoin (BTC) at 4:05 PM (IST) was trading at $21,123.59, up by 1.26% in the last 24 hours. Its total market cap is $406,874,045,159. Ethereum (ETH) was trading at $1,561.48, up by 0.89% in the last 24 hours. It has a total market cap of $191,075,413,155.

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