Indian stocks tracking a mixed global index started Wednesday’s session on a negative note. On the other hand, the Sensex was down 0.07 percent or 56.57 points at 78,142.54, while the Nify50 index traded with a slight cut of 0.04 percent or 10.15 points at 23,697.75.
Markets are likely to react to the revised preliminary estimate of GDP for FY25 which was pegged at 6.4 percent, largely in line with expectations.
Dr. VK Vijayakumar, Chief Investment Officer, Geojit Financial Services noted, “The trend of strong US emerging markets continues. The US 10-year bond yield rose to 4.67% on better-than-expected jobs numbers and indications that the services sector doing very well This means that the Fed may hold rates in January leading to continued strengthening of the dollar and rising bond The fall of this in Indian macros that the RBI may hold rates in February against market expectations of a rate cut.”
In this large setting, FIIs are likely to continue selling, putting pressure on the market, he added.
Asian markets
In Wednesday’s trade, Asian stocks were a mixed bag, with Chinese stocks in the red after the US added leading companies to its blacklist. At last count, the key MSCI Asia ex Japan index traded in the red, down 0.55 percent at 568.35.
Japanese markets also suffered as government officials warned against intervention in the currency market.
