Indian stock market: The domestic equity market is expected to show volatility on Saturday as the Finance Minister will present the Union Budget for 2025-2026 in Parliament today. The Indian stock market benchmark indices, Sensex and Nifty 50 may open on a cautious note amid weak global market cues.
Asian markets ended mixed, while the US stock market declined on Friday. President Donald Trump is expected to stick to his plan to impose tariffs on imported Canadian, Mexican and Chinese goods.
The Indian stock market is open today along with the commodity markets as the BSE, NSE and MCX have announced a special trading session on Budget day.
On Friday, the Indian stock market ended with stellar gains, extending the winning streak for the fourth straight session, after the Economic Survey 2025 was tabled in the Parliament ahead of the Union Budget today.
The Sensex surged 740.76 points, or 0.97%, to close at 77,500.57, while the Nifty 50 settled 258.90 points, or 1.11%, higher at 23,508.40.
“Market maintained its upward bias for the fourth straight session as benchmark indices notched up splendid gains ahead of the important Budget announcement, with strong global cues also aiding the sentiment. Equity markets received a boost after the ECB cut interest rates by 25 bps, which also softened US bond yields. Traders will be focussed on the Budget and steps the government will announce to boost the economy,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets ended mixed on Friday, Japan’s Nikkei gained 0.15%, while South Korea’s Kospi ended 0.77% lower. Markets in China and Hong Kong were closed due to holidays.
Gift Nifty Today
Gift Nifty was around 23,533 level, a discount of nearly 87 points from the Nifty futures’ previous close, indicating a weak start for the Indian stock market indices.
Wall Street
US stock market ended lower on Friday after the White House said US President Donald Trump will implement tariffs on imports of Canadian, Mexican and Chinese goods on Saturday.
The Dow Jones Industrial Average dropped 337.47 points, or 0.75%, to 44,544.66, while the S&P 500 declined 30.64 points, or 0.50%, to 6,040.53. The Nasdaq Composite closed 54.31 points, or 0.28%, lower at 19,627.44.
Nvidia share price fell 3.7%, while Apple shares eased 0.7% and Amazon stock price gained 1.3%. Tesla share price rallied 1.1%, while Chevron shares plunged 4.56%.
US Inflation
US inflation increased in December while consumer spending surged. The personal consumption expenditures (PCE) price index rose 0.3% last month after an unrevised 0.1% gain in November. Economists polled by Reuters had forecast the PCE price index climbing 0.3%. In the 12 months through December, the PCE price index advanced 2.6% after rising 2.4% in November.
Trump’s Tariff Threat
US President Donald Trump said he would impose hefty new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, and the three countries could do nothing to forestall them. He indicated broader tariffs on oil and natural gas would kick in mid-February. The White House said the tariffs against Canada, Mexico and China would take effect on Saturday.
Dollar
The US dollar gained on the tariffs proposed by Trump on Canada, Mexico and China. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.31% to 108.42. It gained 0.93% for the week, snapping two straight weeks of losses.
The dollar strengthened 0.54% to 155.13 against the Japanese yen. The euro dipped 0.3% to $1.0367.
Gold Price Today
Gold prices surpassed the key $2,800 mark for the first time on Friday. Spot gold rose 0.25% to $2,801.00 per ounce, after hitting a record peak of $2,817.23 earlier in the session. US gold futures settled 0.4% lower at $2,835, trading a premium to spot gold rates.
(With inputs from Reuters)
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
MoreLess
