Pre-Market Report: Indian Markets Closed for Republic Day; GIFT Nifty Signals Flat Reopening

Global Market Cues

The US markets concluded the previous week on a mixed note, marking a second consecutive week of losses for major benchmarks. On Friday, January 23, the Dow Jones Industrial Average dropped 285 points (0.6%) to finish at 49,098.71, primarily pressured by a 17% plunge in Intel after the chipmaker issued a weak outlook for the current quarter. In contrast, the tech-heavy Nasdaq Composite rose 0.3% to 23,501.24, bolstered by gains in Microsoft, Nvidia, and Meta.

• The S&P 500 remained largely unchanged, edging up 0.03% to close at 6,915.61.
• Gold prices surged to a fresh all-time high, nearing the $5,000 per ounce mark as investors sought safety amid geopolitical uncertainty.
• Silver futures also hit a historic milestone, crossing $100 per ounce for the first time during Friday's session.
• WTI Crude oil rose 3% to settle at $61.15 per barrel, driven by supply concerns and heightened rhetoric regarding international trade and tariffs.

GIFT Nifty and Domestic Cues

Indian equity markets are closed today for the Republic Day holiday, with normal trading set to resume on Tuesday, January 27. Despite the domestic closure, the GIFT Nifty—trading on the NSE IX—remains active and provides a lead indicator for tomorrow's opening. Currently, GIFT Nifty is trading near the 25,090–25,111 level, suggesting a relatively flat start for the Nifty 50 when local markets reopen.

• On Friday, January 23, the Nifty 50 ended lower by 0.95% at 25,048.65, while the Sensex fell 0.94% to close at 81,537.70.
• Foreign Institutional Investors (FIIs) were net sellers on Friday, offloading shares worth ₹4,113.38 crore.
• Domestic Institutional Investors (DIIs) provided a cushion, acting as net buyers to the tune of ₹4,102.56 crore.
• The Indian Rupee ended the previous session at 91.86 against the US Dollar.

Key Stocks in Focus

Investors will be tracking several stocks tomorrow based on weekend corporate developments and Friday's closing reactions:

• Adani Group Stocks: Shares including Adani Enterprises and Adani Green Energy witnessed sharp declines on Friday following reports of US SEC actions; these counters are expected to remain volatile.
• UltraTech Cement: The cement major reported strong Q3 FY26 results over the weekend, with profit growth supported by healthy sales volumes.
• JSW Steel: The company’s Q3 earnings beat analyst estimates, driven by resilient domestic demand and strategic cost management.
• Reliance Industries: The stock remains a key index heavyweight to watch as global energy prices fluctuate.
• Ashoka Buildcon: The company announced securing a new infrastructure project worth ₹307 crore for bridge construction in Daman.

Key Events to Watch Today

While the Indian markets are on holiday, global participants will focus on several data points and the start of a massive earnings week in the US:

• US Economic Data: The Dallas Fed Manufacturing Index for January will be released today, providing insights into industrial health.
• Global Earnings Week: Investors are bracing for quarterly results from tech titans Apple, Microsoft, and Meta Platforms later this week.
• Federal Reserve Meeting: The FOMC begins its two-day policy meeting on Tuesday, with the interest rate decision on Wednesday being a primary focus for global markets.

TAGS: Pre-Market, Stock Market, Nifty, Sensex, Market Update

Tags: Pre-Market Stock Market Nifty Sensex Market Update