Stock Market Today: Sensex, Nifty may open cautiously amid mixed global cues

Stock Market Today: The S&P BSE Sensex and NSE Nifty50 Indian headline indices may start Tuesday's trading cautiously due to conflicting global indications. While Dow futures were trading at 32813.90, up 56.40 or 0.17 percent, Singapore's SGX Nifty, a leading predictor of Nifty movement, was trading in the negative hours before domestic equity markets opened.

Top Asian benchmark indices

China's Shanghai Composite was trading down by 60 points or 1.92 percent at 3107.11 while Nikkei 225, one of the main Asian benchmark indices, was up 82.46 points or 0.30 percent at 27320.10. At 19110.61, the Hang Seng was also down more than 240 points, or 1.25 percent.

The US stock market experienced its fourth loss since the announcement of Fed policy on Monday as it settled with a negative bias. On Wall Street, there was selling pressure, with the Nasdaq Composite turning out to be the poorest performance. It decreased by 1.5%.

Stock Market Today: Technology stocks

The top losses were technology companies including Meta Platforms, Alphabet, Apple, and Microsoft Corporation. The Dow 30 and S&P 500 both experienced point declines of 163 and 35, respectively.

China has experienced a fresh Covid-19 tsunami that is destabilising international markets.

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Dollar Index

In comparison to a basket of six major currencies, the dollar index is essentially unchanged at 104.3, while crude has managed to hold steady at USD 80.

Indian investors need to pay attention to INY's movement as it finished strong versus the US dollar.

Expect stock specific action

On company-specific news, anticipate stock-specific movement in IRCTC, LIC, Tanla Platforms, Dabur India, IRB Infra, and other companies.

Day 2 of the KFin Technologies IPO will take place. Retail investors have subscribed for the issue 0.26 times, making up 0.55 times of the total subscription. The IPO for Elin Electronics will also start today.

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