Stock market today: All you need to know before opening bell on January 23

Indian markets are expected to open cautiously after a strong pullback from lower levels on Wednesday. Global markets remained buoyant on Wednesday, as some benchmark indices in the US touched record highs. Crude oil prices continued to slide as oversupply concerns kept them down.

US markets The US markets closed higher on Wednesday after optimism around earnings and the positive economic impact of Trump’s economic policies boosted investor confidence. The S&P 500 touched record-high levels and closed flat, while NASDAQ and Dow Jones closed over 1% higher on Wednesday.

Asian markets Asian markets globally traded positively on Thursday morning, following the optimism in the US markets. The Bank of Japan’s monetary policy meeting began today, and the expectations of hawkish outcomes from the two-day meeting are certain. Apart from that, the Chinese and Hong Kong indices shrugged off worries about the US's tariffs and traded nearly 1% higher on Thursday.

Crude oil prices Crude oil prices continued to trade lower as the Trump administration's pro-economic policies are expected to boost the energy supply in the market. In addition, the US inventories data revealed the rise in the crude oil inventories in the US on Wednesday. WTI crude oil prices traded near $75 per barrel, and Brent crude oil prices fell below $79 per barrel, falling for a fifth consecutive session.

FII and DII position The FIIs sold ₹4000 crore worth of Indian equities on Wednesday in the equity markets and added little shorts in the derivatives market at 3.5 lakh contracts on the short side. The DIIs bought equities worth ₹3,600 crore of equities.