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What you need to know before the stock market opens today: 10 points

Stock Market today: Here are top updates on the stock market before it opens today

Published on: Jan 29, 2024, 08:18:10 IST
By HT News Desk
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The Indian stock market is expected to open on a positive note today amid upbeat global cues as the country awaits the interim budget which will be presented on February 1.

Read more: Oil price jumps after Houthis attack on fuel tanker in Red Sea, market to reprice the risk

Here are top updates on the stock market before it opens today:

  1. Markets were closed on Friday- January 26th- on account of Republic Day.
  2. On Thursday- January 25th- the ​BSE Sensex​ fell 359.64 points to close at 70,700.67 while the ​NSE Nifty​ declined 0.47 per cent to 21,352.60 influenced by disappointing results from Tech Mahindra. Some noteworthy stocks hit a 52-week high on the NSE. These included Malu Paper Mills (19.98%), Oswal Agro Mills (19.97%), Balkrishna Paper Mills (19.95%), Urja Global (19.95%), and Rajshree Sugars & Chemicals (19.94%).
  3. For today, the stock market remains under pressure due to the continuous selling by foreign portfolio investors.
  4. Mixed corporate results may also impact the market.
  5. The dollar remained on a steady footing ahead of the US Federal Reserve policy meeting this week. The dollar index inched 0.01% higher to 103.55 and is set for a 2% gain in January. The US Federal Reserve’s policy meeting is scheduled for January 31.
  6. Hong Kong stocks rose at the open as China unveiled fresh measures to support the markets. The Hang Seng Index added 0.59 per cent, or 94.02 points, to 16,046.25.
  7. Crude oil jumped on heightened tensions in the Middle East. Both Brent and West Texas Intermediate crude rose more than 1% to their highest since November in intraday trading after a drone attack on US base in Jordan killed three American troops which Washington blamed on Iran-backed militants .
  8. Stocks in Asia gained as shares rose at the open in Japan while Stocks in South Korea also advanced.
  9. Futures contracts for US stocks slipped as investors weighed risks from the Middle East conflicts.
  10. This week five big tech companies with a combined market value of more than $10 trillion will report earnings: Microsoft, Alphabet, Meta Platforms, Amazon.com and Apple.

Stock Market today: Markets were closed on Friday- January 26th- on account of Republic Day. (Bloomberg)
Stock Market today: Markets were closed on Friday- January 26th- on account of Republic Day. (Bloomberg)
 
ABOUT THE AUTHOR
HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

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Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
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