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Stock market today: Key things to know before the opening bell on January 31
2 min read | Updated on January 31, 2025, 08:05 IST
SUMMARY
Markets are expected to react to the Economic survey, which will be tabled on Friday in the Parliament by the Finance Minister. The markets are expected to open higher amid optimism ahead of the Union Budget.
GIFT NIFTY futures traded 180 points higher at 7:30 am in the morning on Friday.| image source: shutterstock
US markets
The Dow Jones, Nasdaq, and S&P500 closed in green on Thursday amid a choppy session. The benchmark indices reacted to strong earnings during the previous quarter. Key stocks like Meta jumped 1.6% after their earnings exceeded expectations for the December quarter. Similarly, Tesla, gained 2% after its earnings con-call despite meeting expectations.
Asian markets
The Japanese indices traded in the green on Friday morning after retail sales in Japan increased 3.7% for December 2024, beating market expectations of 3.2%.In addition, industrial output increased by 0.3% during the same period. The Chinese and Hong Kong markets remained closed on account of the prolonged holiday for the Chinese New Year.
Crude Oil
Crude oil prices extended gains ahead of the key OPEC+ meeting on February 3. The WTi crude oil prices inched over $73 per barrel, and Brent crude oil prices traded above $76 per barrel.
FII and DII
The foreign institutional investors continued selling in equity markets while reducing their short positions in the derivatives market. The FIIs sold ₹4000 crore worth of equities on Thursday and reduced its short position to 1.72 lakh contracts in the derivatives market. The DIIs mopped up the stake in Indian equities by adding equities worth ₹2,165 crore.
Chart check
The NIFTY50 and SENSEX have taken resistance at the key 20SMA levels on a daily chart basis. The benchmark indices are expected to open higher above the 20 SMA levels on Friday, as indicated by GIFT NIFTY futures.
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