Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open lower on Monday tracking mixed cues from global markets.

Asian markets traded flat today, while the US stock market ended lower on Friday, amid selling in technology stocks.

This week, investors will monitor key stock market triggers, including the next set of Q3 results, Union Budget 2025, January’s derivatives contracts expiry, US Federal Reserve interest rate decision, auto sales data, domestic and global macroeconomic data, flow of foreign funds, trends in crude oil prices and other key global market cues.

On Friday, the Indian stock market ended lower amid profit booking after a two-day recovery rally.

The Sensex declined 329.92 points, or 0.43%, to close at 76,190.46, while the Nifty 50 settled 113.15 points, or 0.49%, lower at 23,092.20.

“Domestic equities are expected to trade within a broad range with some volatility amidst the Q3 result season, unfolding of US President Trump’s economic policies and the Union Budget. PSU and capex themed stocks such as railway, defence, capital goods will be in focus ahead of the Budget,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded flat ahead of key economic data from China. Japan’s Nikkei 225 rose 0.03, while the Topix gained 0.62%. Hong Kong’s Hang Seng index futures indicated a higher opening. Taiwan and South Korean markets were closed for holidays.

Gift Nifty Today

Gift Nifty was trading around 22,970 level, a discount of nearly 143 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.

Wall Street

US stock market ended lower on Friday dragged by technology stocks amid mixed economic data and earnings reports.

The Dow Jones Industrial Average declined 140.82 points, or 0.32%, to 44,424.25, while the S&P 500 dropped 17.47 points, or 0.29%, to 6,101.24. The Nasdaq Composite closed 99.38 points, or 0.50%, lower at 19,954.30.

Nvidia share price fell 3.1%, Microsoft stock price lost 0.6% and Tesla stock declined 1.4%. American Express shares fell 1.4%, while Boeing share price dropped 1.4%. NextEra Energy Inc stock rallied 5.2%, while Texas Instruments shares tanked 7.2%.

US Home Sales

US existing home sales increased to a 10-month high in December. Home sales rose 2.2% last month to a seasonally adjusted annual rate of 4.24 million units, the highest level since February. Economists polled by Reuters had forecast home resales would rise to a rate of 4.19 million units.

US Consumer Sentiment

US consumer sentiment weakened in January for the first time in six months. The University of Michigan said that its Consumer Sentiment Index fell to 71.1 this month from a preliminary reading of 73.2 and 74.0 in December. Economists polled by Reuters had expected an unchanged reading.

Oil Prices

Crude oil prices fell after US sanctions and tariffs highlighted risks to the global economy and trade. Brent crude oil declined 1.03% to $77.69 a barrel, while the US West Texas Intermediate (WTI) crude futures dropped 1.13% to $73.82.

Dollar

The US dollar slid on Friday, posting its biggest weekly loss in over a year. The US dollar dropped as much as 0.8% against a basket of currencies on Friday, before narrowing losses at the end of the day to be down 0.65%. The dollar fell 1.8% last week, its worst week since November 2023.

Gold Prices

Gold prices rose over 1% on Friday, closing in on its all-time-high hit in October, amid a weak dollar. Spot gold was up 0.7% at $2,772.79 per ounce, while US gold futures settled 0.5% up at $2,778.90 per ounce.

Forex Reserves

India’s foreign exchange reserves extended their slump for about four months now, hitting an 11-month low. In the week ending January 17, India’s forex reserves declined by $1.88 billion to $623.983 billion. The reserves are now over 10% lower than the peak.

ICICI Bank Q3 Results

ICICI Bank reported a standalone net profit of ₹11,792 crore in Q3FY25, recording a growth of 14.8% YoY, while its net interest income (NII) increased 9.1% YoY to ₹20,371 crore. The private lender’s net interest margin (NIM) declined to 4.25% from 4.43%, YoY. Asset quality was stable sequentially.

(With inputs from Reuters)

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