Benchmarks likely to get positive start on Wednesday

15 Jan 2025 Evaluate

Indian equity benchmarks are likely to get a flat-to-positive start on Wednesday following overnight fall in crude oil prices and amid mixed global cues.

Some of the key factors to be watched:

India to be world's third-largest economy by 2027: Sentiments will get a boost after Union Minister of Commerce and Industry, Piyush Goyal has said that by 2027, India will be the world's third-largest economy, ahead of Japan and Germany.

Rupee likely to stabilise soon after: A report by the State Bank of India (SBI) said the Indian rupee may experience some volatility in the early days of Donald Trump’s presidency, but it is likely to stabilise soon after, terming this short-term phenomenon as Trump Tantrum.

FTA talks with India have been relaunched: The UK government told Parliament that the Free Trade Agreement (FTA) talks with India have been relaunched to deliver a joint ambition of taking the bilateral relationship to even greater heights.

Auto stocks will be in focus: Industry body SIAM said automobile dispatches from companies to dealers rose 12 per cent to 2,54,98,763 units in 2024 against 2,28,39,130 units in 2023 on the back of positive consumer sentiments which aided robust demand for two-wheelers.

Aviation industry stocks will be in limelight: Rating agency ICRA said the country's civil aviation industry is projected to report a net loss of Rs 2,000 to Rs 3,000 crore in the current and next financial year as supply chain challenges and engine issues are expected to continue for some more time.

On the global front, the US markets ended mostly in green on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the U.S. economy. Asian markets are trading mixed on Wednesday following overnight gains on Wall Street.

Back home, Indian equity benchmarks rebounded after four days of sharp decline and ended higher on Tuesday amid value buying at lower levels and a largely firm European markets. Finally, the BSE Sensex rose 169.62 points or 0.22% to 76,499.63, and the CNX Nifty was up by 90.10 points or 0.39% to 23,176.05.

Some of the important factors for the markets:

Cooling retail inflation brought some respite: Retail inflation declined to a four-month low of 5.22 per cent in December 2024 amid easing of prices in the food basket, giving headroom to the Reserve Bank of India (RBI) to reduce the key interest rate in upcoming monetary policy reviews.

WPI rose to 2.37% in December 2024: Wholesale price inflation (WPI) rose to 2.37 per cent in December 2024, led by spike in manufactured products even though prices of food items eased.

Rupee recovered from record low: Indian rupee rebounded from its lowest-ever level and rose 12 paise higher at 86.62 (provisional) against the US dollar as the American currency retreated from record high.

Q3 earnings remained in watch: Traders remained on sidelines ahead of the December quarter earnings. IT company HCL Technologies has reported 5.58% rise in consolidated net profit at Rs 4,594 crore for Q3FY25 as compared to Rs 4,351 crore for the same quarter in the previous year.

Treasury yields slipped & crude oil prices stabilized: Treasury yields pulled back after the 10-year yield hit a fresh 14-month high on in the previous session ahead of key inflation reports. Global oil benchmark Brent crude dipped 0.33 per cent to $80.74 a barrel.

Benchmarks likely to get positive start on Wednesday

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