Stock market today: Key things to know before the opening bell on January 28

Indian markets are expected to see some respite on Tuesday after a sharp sell-off on Monday. The GIFT NIFTY futures traded 114 points higher on Tuesday morning, indicating a positive start for the Indian markets. The US markets witnessed a sharp selloff in the tech stocks, especially in Nvidia, wiping out close to $600 billion from it market cap in a single day.

US markets

The US markets saw a historical day as Nvidia witnessed a nearly 17% fall in share price, wiping out a record amount of market capitalisation in a single day, nearly $600 billion. Consequently, the NASDAQ index saw a 3% fall on Monday. The fall was largely due to rising concerns over Nvidia and US big tech’s dominance. Chinese startup DeepSeek AI surpassed all the existing AI models like Chat GPT, Llama, Gemini and more with 97% accuracy and a 96% lower cost. However, the Dow Jones closed with 300 points gain on Monday as defensive stocks gained traction amid a broader market rout.

Asian markets

The Asian markets traded mixed on Tuesday morning amid weak cues from the global markets. The Japanese and Korean indices traded in the red with 0.4% losses, while Hong Kong and China traded in green. The launch of DeepSeek is seen positively for Chinese tech stocks as it gives them the edge over other big-tech companies in advancing their AI capabilities under a restricted environment due to trade sanctions.

Crude oil

Crude oil prices fell to nearly a month’s low after Chinese factory data indicated a slowdown in manufacturing activity in the world’s second-largest economy, raising demand concerns amid a high-supply environment. WTI crude oil prices fell nearly 2% to $73 per barrel, and Brent crude oil prices closed 1.9% lower at $77 per barrel.

FII and DII data

The foreign investors sold nearly $5,000 crore on Monday amid a broader market selloff, continuing their previous stance. On the other hand, the domestic investors bought equities worth ₹6,642 crore on Monday. In the derivatives segment, the FIIs cut down their short position from 3.09 lakh contracts to 2.7 lakh contracts.