Market Outlook: US Stocks Rebound, GIFT Nifty indicate muted start for Indian Benchmarks
Feb 02, 2024, 08:31 IST
Global Cues
US stocks rebounded as investors looked to a spate of high-profile earnings & Friday's employment report
Dollar fell broadly on Friday in a bout of positive risk sentiment following upbeat big tech earnings on Wall St
Gold firmed nearer a one-month high on Thursday after data showed US weekly jobless claims rose last week
Spot gold was up 0.9% at $2,054.89 per ounce, hitting its highest level since January 3
Oil prices fell over 2% on Thursday following unsubstantiated reports of a ceasefire between Israel & Hamas, and a power outage forcing large US refinery to shut
Bank of England froze its key interest rate for a fourth time in a row, matching US Federal Reserve policy
Asian markets trading higher early Friday, mirroring Wall Street’s rebound
Local Cues
Indian benchmarks likely to open on a flat note as trends in the GIFT Nifty indicate a muted start
FIIs net sold shares worth Rs 1,879.6 cr, while DIIs purchased Rs 872.5 cr worth of stocks on February 1
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