The Indian stock market is poised for an optimistic opening as the GIFT Nifty signals a positive trend, reflecting movements in both Asian and US markets. Following a four-day slump, the US stock exchanges rallied on Tuesday after encouraging remarks from Treasury Secretary Scott Bessent regarding potential easing of tariffs between the US and China. This uplift resulted in US indices climbing between 2.5% and 2.7%, bringing a wave of optimism to global markets.
Key Drivers Impacting Wednesday’s Market
US Treasury Secretary’s Insights
In a recent closed-door discussion with investors, Scott Bessent, the US Treasury Secretary, expressed confidence that the ongoing trade tensions with China would see a “de-escalation” shortly. He described the current high tariffs as unsustainable, which has sparked renewed hope among investors about a potential resolution to the trade conflict.
- Key Market Movements:
- Dow Jones Industrial Average surged by 1,016.57 points, marking a 2.66% increase, closing at 39,186.98.
- S&P 500 rose by 2.51%, finishing at 5,287.76.
- Nasdaq Composite experienced a 2.71% climb, ending at 16,300.42.
Rising Gold Prices
Gold has reached a remarkable milestone, surpassing the Rs 1 lakh threshold per 10 grams, driven by robust demand from jewellers and stockists. With the festive season of Akshaya Tritiya and numerous weddings on the horizon, the price of 24-carat gold surged to a historic high of Rs 1,01,600/10 grams, up from the previous day’s Rs 99,800.
Focus on Waaree Energies
In corporate news, Waaree Energies has caught the market’s attention. The company reported a 34% year-on-year increase in net profit for the fourth quarter of the fiscal year 2024-25, reaching Rs 619 crore compared to Rs 461 crore in the same period last year. Additionally, their revenue rose by 36.4% year-on-year, totaling Rs 4,004 crore, up from Rs 2,936 crore a year earlier. The Ebitda also showed significant growth, climbing to Rs 923 crore for Q4FY25, compared to Rs 418 crore in Q4FY24.
With these developments, investors are advised to monitor the evolving market conditions closely as they navigate today’s trading session.
