FOREX
Flat opening seen for Sensex, Nifty as analysts crystal gazing Trump’s new measures
Indian benchmark indices, Sensex and Nifty, are expected to open flat, even as market experts are analysing a slew of significant measures taken by US President Donald Trump on day one of assuming office.
Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said: Trump’s assurances of a positive dialogue with China added to global optimism. Export-oriented sectors such as IT, pharma, speciality chemicals and textiles will remain in focus with Trump’s trade policy decisions following the start of his Presidential term.
Vishnu Kant Upadhyay, AVP—Research & Advisory, Master Capital Services, said traders appear to be engaging in short-covering as significant volatility is anticipated on Tuesday.
The newly elected US President is expected to sign multiple executive orders, which could introduce heightened market volatility, prompting traders to adjust their positions. Despite the positive undertone, overall sentiment remains cautious as the market continues to trade well below its crucial 200-day EMA, indicating underlying weakness. He added that any initial gains are likely to face resistance around the 23,500–23,550 zone.
Gift Nifty at 23,421 indicates a flat opening but in the positive zone.
Rajesh Bhosale, Technical Analyst, Angel One Ltd, said: Despite the optimistic tone, the benchmark index continues to consolidate within a narrow range of 23100–23400. T”he market appears to be awaiting triggers from both global and domestic developments. On the global front, all eyes on the US markets, particularly their reaction following President Donald Trump’s resumption of a key position.”
Domestically, the spotlight remains on major corporate earnings and anticipation surrounding the upcoming budget, he further said.
Meanwhile, equities in Korea, Japan, Singapore, and Hong Kong are flat and remain lacklustre. However, Australian stocks are up marginally.
