Markets Open in the Red in Morning Trade on Jan 24 Trade Following Tuesday’s Downturn

Markets Open in the Red in Morning Trade on Jan 24 Trade Following Tuesday's Downturn

VoM News Desk | January 24, 2024 | 10:17 AM IST | Breaking News | Follow on Google News

Markets Open in the Red in Morning Trade on Jan 24 Trade Following Tuesday’s Downturn/PTI

Markets Open in the Red in Morning Trade on Jan 24 Trade Following Tuesday’s Downturn

Sensex and Nifty opened in the red, continuing their downward trend after a 1.5% decline on Tuesday. At 9:26 am, Sensex was down 160.80 points (0.23%) at 70,370.55, while Nifty was down 22.60 points (0.11%) at 21,216.20.

Asian Markets Indicate Mixed Trading

Asian markets are expected to have a mixed day, with hopes for positive sessions in China, while Japanese shares open lower. Traders are closely watching developments in China and Japan after a slightly more hawkish tone from the Bank of Japan, leading to a slip in Japanese shares and a surge in government bond yields.

Global Market Overview

Equity futures suggest gains in Hong Kong and China shares, influenced by a nearly 5% gain in the Nasdaq Golden China Dragon Index. The S&P 500 and Nasdaq 100 closed at all-time highs for a second consecutive day. The Federal Reserve’s warnings on interest-rate cuts seem to have had limited impact on the stock market, but some on Wall Street are beginning to question the sustainability of the rally.

Currency and Bond Movements

A gauge of the dollar showed little change after two days of gains. Treasury yields stabilized in Asian trading after a slight increase on Tuesday, with the benchmark 10-year rate at 4.14%. The rate on the two-year fell by 3 basis points to 4.34%.

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