Indian stocks are expected to open in the green as trends on the SGX Nifty point to a positive start for the index with gains of more than 100 points.
On Jan. 12, the BSE Sensex revisited the 61,000 level, rising 533 points to 61,150, while the Nifty50 added 156.50 points to 18,212 and formed a bullish candle on the daily chart, extending gains for the fourth straight session.
According to the pivot chart, the key support for the Nifty lies at 18,151.44, followed by 18,090.57. If the index rises, the key resistance levels to watch are 18,250.54 and 18,288.77.
Stay tuned to Moneycontrol to find out what’s going on in the currency and stock markets today. We’ve rounded up a slew of key headlines from news platforms that could affect Indian and international markets: U.S. stock indexes rose on Wednesday after data showed U.S. inflation was largely in line with economists despite being at the highest level in decades , easing some concerns that the Fed will have to pull back support more forcefully than expected.
The Dow Jones Industrial Average added 38.3 points, or 0.11%, to 36,290.32, the S&P 500 added 13.28 points, or 0.28%, to 4,726.35 and the Nasdaq Composite added 34.94 points, or 0.23%, to 15,188.39.
Asia market
Asia-Pacific markets were mixed on Thursday, with Wall Street gaining even as a red-hot inflation report set expectations for a rate hike. Meanwhile, Covid concerns have come into focus as the World Health Organization has warned that omicron cases are “more than expected”.
Japan led losses in the region, with the Nikkei 225 down 0.8% after gaining nearly 2% on Wednesday, while the Topix lost 0.49%.
SGX is beautiful
The SGX Nifty trend pointed to a positive open for the Indian index, rising more than 100 points. Nifty futures were trading at 18,335 on the Singapore Exchange around 07:35 IST.
U.S. consumer prices post biggest gain in nearly 40 years; inflation nears peak
U.S. consumer prices rose steadily in December as rental accommodation and used cars maintained strong growth, culminating in the biggest annual rise in inflation in nearly 40 years, bolstering expectations the Federal Reserve will start raising interest rates as early as March.
The consumer price index rose 0.5% last month after rising 0.8% in November. In addition to rising rents, consumers are also paying more for food, although food prices rose 0.5% lower than in the previous three months. Fruit and vegetable prices rose sharply, but beef prices fell 2.0% after a recent surge.
Prices paid by U.S. consumers rose 7% in December from a year earlier, the highest rate of inflation since 1982 and the latest evidence that rising costs of food, rent and other necessities are adding to the financial strain on U.S. households.
Complete News Source : money control
