Wall Street closed in green on Tuesday, with the Dow Jones up 0.39%, S&P 500 up 0.25%, and Nasdaq Composite up 0.59%, driven by stabilizing yields and Bitcoin rebounding above $91,000 after a sharp dip. Top movers included Boeing, MongoDB, and Credo, while market sentiment remains cautious ahead of the Fed's next move and ongoing tariff concerns.
Indian ADRs showed mixed performance overnight: Infosys ADR dipped 0.23%, ICICI Bank edged up 0.05%, HDFC Bank gained 1.13%, and Reliance Industries declined 0.66%. HDFC Bank’s strength offers positive cues for Indian investors, but overall positioning remains cautious ahead of the domestic session.
Asian markets opened with the Nikkei up 1%, Hang Seng down 1%, and Shanghai Composite slightly down. Gift Nifty traded flat at 26,191, indicating a steady opening for the Indian market, with investors awaiting clearer directional signals from global cues.
Major market catalysts today include the Bank of Japan’s rate hike hint, which has tightened global financial conditions, and ongoing Trump tariff pressures affecting India’s manufacturing sector and rupee. Crude oil is steady around $63 per barrel, while gold and silver have eased after recent volatility.
Domestic market trends in India are shaped by the RBI’s monetary policy meeting starting today, with expectations of a status quo or possible rate cut amid record-low CPI inflation and robust GDP growth. FII outflows continue, but DIIs remain net buyers, supporting sentiment. The rupee hit a fresh low near 89.95 per dollar.
Technical levels for Nifty50 point to support at 26,000 and resistance at 26,200–26,325, while Bank Nifty support is at 58,300–58,600 and resistance at 59,600–59,800. The overall technical structure remains bullish, but near-term consolidation is expected ahead of the RBI decision.
Commodity market updates show crude oil at $63 per barrel, gold around $4,223 per ounce, and silver at $57.4 per ounce, with recent pullbacks after volatility spikes. These levels could influence equity valuations and the rupee.
Today’s tactical theme for traders is to stay selective and focus on quality large-cap names with strong fundamentals, given the backdrop of FII selling, rupee weakness, and the upcoming RBI policy. Dips toward support could offer tactical opportunities, but conviction remains limited until clearer global cues emerge.
For today’s daily market preview, watch for any new market catalysts, especially from the RBI meeting, and stay updated on evolving market trends in India. The stock market India outlook remains cautiously optimistic, with a focus on technical setups and sectoral rotation.