The Indian stock market is expected to open higher on February 06, 2024, following gains in global markets. The GIFT Nifty, an indicator of the Indian equity indices, is trading at 23,802, suggesting a positive opening for the BSE Sensex and NSE Nifty 50. (Source: The Economic Times, February 06, 2024)
Asian markets opened higher on February 06, tracking overnight gains in US markets. Japan's Nikkei 225 was trading 0.45% higher at 39,005.16, while the Asia Dow was up 1.22% at 3,780.37. South Korea's Kospi added 0.45% in early trade hours, and Kosdaq traded 0.8% higher. (Source: The Economic Times, February 06, 2024)
The US stock markets closed Wednesday on a higher note, with the S&P 500 rising 0.39% to 6,061.48. The Nasdaq Composite Futures climbed 0.19% to 19,692.33, and the Dow Jones Industrial Average Futures advanced 0.71% to 44,873.28. (Source: The Economic Times, February 06, 2024)
The Union Budget 2025-26 has boosted investor confidence, paving the way for a positive outlook for equity markets. (Source: The Economic Times, February 06, 2024)
Investors will be closely watching Q3 earnings announcements from several large-cap companies, including Bharti Airtel, SBI, ITC, Trent, Britannia Industries, BSE, and Hero MotoCorp, among others. (Source: The Economic Times, February 06, 2024)
Foreign institutional investors (FII) were net sellers of shares worth Rs 1,682.83 crore, while domestic institutional investors (DII) were net buyers of shares worth Rs 996.28 crore on February 05, 2024. (Source: The Economic Times, February 06, 2024)
The Indian stock market is expected to remain range-bound with stock/sector-specific action due to the Q3 earnings announcements. (Source: Motilal Oswal Financial Services Ltd., February 06, 2024)
The rupee depreciated 0.45% to close at 87.47 to the dollar on February 06. (Source: The Economic Times, February 06, 2024)
Crude oil prices edged higher, with WTI crude trading at $71.16 (up 0.18%) and Brent crude at $74.73 (up 0.18%). (Source: The Economic Times, February 06, 2024)