The market is expected to have a weak start, with the Indian stock market projected to decline by 0.40 percent. This follows a turbulent session in the U.S. markets, where major stock indexes closed lower.
The Nifty futures are currently trading around the 24,275.50 level, reflecting uncertainty in the market. The U.S. stock market has seen modest losses, primarily driven by a decline in technology and chip-related stocks. Investors are closely monitoring upcoming earnings reports from major corporations.
The U.S. economy expanded at a rate of 2.8 percent year-over-year, falling short of expectations. Asian markets are also reflecting a negative sentiment, with most indices trading lower. In the commodities sector, gold has reached a fresh record high, while oil prices have seen an uptick.
In the Indian market, benchmark indices closed below the 24,350 mark, largely driven by selling pressure in the banking, metal, and IT sectors. Investor sentiment remains cautious amid volatility, with traders waiting for clearer signals before committing to significant positions.
Investors are closely monitoring market conditions and are cautious due to the ongoing volatility. They are waiting for clearer signals before making significant investment decisions.
The market is currently experiencing uncertainty and cautious investor sentiment. It is important for investors to closely monitor market trends and upcoming earnings reports to make informed decisions.