Global Market Cues

• US markets ended Tuesday on a mixed note but with significant milestones; the S&P 500 gained 0.41% to hit a fresh record closing high, while the Nasdaq Composite surged 0.91% led by technology heavyweights.
• The Dow Jones Industrial Average dropped 0.83%, primarily dragged down by a sharp sell-off in health insurer UnitedHealth.
• The US Dollar Index (DXY) plummeted to 4-month lows near the 97 mark, providing a boost to emerging market currencies and commodities.
• Asian markets are trading mostly higher on Wednesday morning, with Japan's Nikkei and South Korea's Kospi showing resilience despite ongoing trade and tariff rhetoric from the US.
• Gold and silver continue their record-breaking run, with spot gold holding firm above $5,125 per ounce as safe-haven demand remains elevated.

GIFT Nifty and Domestic Cues

• GIFT Nifty is trading near 25,453.50, suggesting a massive gap-up of approximately 278 points for the Nifty 50, which closed at 25,175.40 on Tuesday.
• India and the European Union officially concluded negotiations for a historic Free Trade Agreement (FTA) and a Security and Defense Partnership on January 27, 2026, which is expected to significantly boost Indian exports in textiles, chemicals, and pharmaceuticals.
• Sentiment remains buoyed by the Reserve Bank of India’s (RBI) plan to inject over $23 billion in liquidity into the banking system through various operations.
• Investor focus is intensifying on the upcoming Union Budget 2026, scheduled for presentation on February 1, with the Budget Session of Parliament beginning today.
• FII/DII Data: Foreign Institutional Investors (FIIs) remained net sellers in recent sessions, while Domestic Institutional Investors (DIIs) continued to provide support as net buyers.

Key Stocks in Focus

• Axis Bank: Shares will be in the spotlight after the lender reported a modest rise in December quarter profits, leading to a 4% gain in the previous session.
• Kotak Mahindra Bank & Asian Paints: Likely to face continued pressure following weaker-than-expected Q3 earnings results.
• Metal Stocks: Expected to see buying interest tracking higher global commodity prices and the positive outlook from the India-EU trade deal.
• Adani Group Stocks: Monitoring for volatility after recent sharp fluctuations in group market value.
• IT Stocks: Expected to track the overnight gains in the Nasdaq and the record highs of US tech majors.

Key Events to Watch Today

• US Fed Policy: The Federal Open Market Committee (FOMC) will conclude its two-day meeting; while a pause is expected, the commentary on future rate paths will be critical.
• Budget Session: The commencement of the Budget Session in Parliament will be closely watched for government cues ahead of the February 1 presentation.
• Q3 Earnings: Several mid-cap and large-cap companies are scheduled to report their quarterly results today, which will drive stock-specific action.
• US Data: Key releases including durable goods orders and consumer confidence data will influence global sentiment in the second half of the day.

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

Tags: Pre-Market Stock Market Nifty Sensex Market Update

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