The Nifty’s rally from last Wednesday’s lows saw a fall of nearly 50% on Monday. Today there is bullish trend from foreign markets to domestic stock market. The price of crude oil has crossed 88 dollars per barrel. Even today, the market will be watching the Israel-Hamas conflict. Let’s take a look at what else matters to the market today.
Signals from foreign markets
The US stock market closed with gains yesterday amid signs of a break in interest rates. Federal Reserve Vice Chair Philip Jefferson and Dallas Fed President Laurie Logan say the recent rise in US bonds means there is less need to tighten rates. After this yesterday the Dow Jones closed with an increase of 197 points, the S&P 500 index with an increase of 27 points and the Nasdaq index with an increase of 53 points.
Talking about the Asian markets, there is also a bullish trend here. Japan’s Nikkei index is trading up 2.3%. South Korea’s Kospi index is trading with a gain of 1.32%. Markets in Taiwan are closed today. There are also bullish signs from the Hang Seng and Shanghai Composite.
Update on the Israel-Hamas war
Several media reports have said that 1,600 people have lost their lives so far in this war. Israel has occupied the territory outside of Gaza. The Israeli army has called up 300,000 reserve forces to fully capture the Gaza Strip. Meanwhile, talks between Israel and Saudi Arabia may now be delayed. The US is also preparing to send several warships and aircraft near Israel.
Other signals for the market
1. Crude oil prices continue to rise amid Israel-Hamas war. Crude oil prices rose 4% yesterday, with Brent crude now crossing $88 per barrel. The price of WTI is also around $86 per barrel.
2. Gold prices are rising amid geo-political tensions. In the international market, spot gold rose 1.1% to $1,853.20 an ounce, the highest level since September 29.
Statistics of FIIs-DII
On the first trading day of the week i.e. Monday, the market is witnessing selling by foreign institutional investors. While buying was seen from domestic institutional investors. In the cash market on Monday, Rs. 997.76 crore shares were sold. While domestic institutional investors have invested Rs. 2,661.27 crore shares have been purchased.
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