Indian stocks are predicted to open significantly higher today, influenced by positive global signals and a decline in domestic bond yields due to the government's reduction in its fiscal deficit target, despite an upsurge in infrastructure expenditure.
Despite fluctuations, closing slightly fallen on Thursday were benchmark indexes like Sensex and Nifty, meanwhile, the Rupee advanced by eight paise settling at 82.96 against the US dollar.
Asian markets and US stock futures experienced a surge in their morning trade following exceptional results from tech giants like Amazon, Apple, and Meta Platforms.
The US dollar experienced a fall against its major counterparts, and oil is heading for its most substantial weekly loss since early November. The drop follows the reports of a ceasefire agreement between Hamas and Israel, an essential move towards ending the ongoing conflict.
The Dow increased by 1% as US stocks rebounded after experiencing their largest daily drop of 2024 due to a hawkish Federal Reserve policy statement. Similarly, both the tech-focused Nasdaq Composite and the S&P 500 surged about 1.3% as Treasury yields declined due to weaker labor market information.
There was an unexpected rise in US jobless claims last week, and the fourth quarter unit labor cost predictions fell short. Furthermore, manufacturing sector business activity continued to contract in January, as indicated by separate reports.
For the first time in six days, European stocks closed lower on Thursday. This occurred regardless of the positive Eurozone inflation data and signals from the Bank of England indicating likely reductions in borrowing costs this year for the first time since 2020.
Specifically, the pan-European STOXX 600 fell by 0.4%. Similarly, Germany's DAX decreased marginally by 0.3%, France's CAC 40 lost 0.9%, and the UK's FTSE 100 slightly fell by 0.1%.
