US GDP grew 4.4 per cent in the third quarter, signaling strong demand for Indian exports despite hawkish PCE inflation at 2.8 per cent.
Crude oil prices edged higher with Brent at 64.55 dollars, while gold prices softened to Rs 15,430 per gram for 24 karat purity.
Headline indices expect a flat start as 58 companies, including Adani Green and JSW Steel, prepare to report Q3FY26 financial results.
Stock Market Cues: US Macroeconomic Data, Commodity Price Changes, Q3 Results Set To Affect Investor Sentiment
On January 23 the release of key US macroeconomic data, changes in crude oil prices, gold and silver prices and the announcement of Q3FY26 results are set to impact market sentiment :
Summary
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Stock Market Cues: On January 23, the headline indices are likely to start the session on a flat to positive start. The Gift Nifty opened slightly higher at 25,396.50, but gained to trade around the 25,413.50 level.
On January 22, the headline indices ended a losing spree, the BSE Sensex finished the session around the 82,307.37 level up by 397.74 points or 0.49 per cent and the Nifty 50 closed at 25,289.90 up by 132.40 points or 0.53 per cent.
Stock Market Cues For Today
On January 23 the release of key US macroeconomic data, changes in crude oil prices, gold and silver prices and the announcement of Q3FY26 results are set to impact market sentiment :
US Macroeconomic Data
On January 23, the U.S. Bureau of Economic Analysis (BEA) released the US GDP for the third quarter of the fiscal. The US GDP increased at 4.4 per cent, this was a notable growth compared to the second quarter in which the US economy grew at 3.8 per cent. On the other hand the personal consumption expenditures (PCE) price index stood at 2.8 per cent in November on a YoY basis, up from 2.7 per cent in October. While the strong GDP growth indicates an overall healthy environment for India’s export focused businesses, the PCE complicates the timeline for interest rate cuts. IT services and other sectors like pharma and textiles stand to benefit as US demand on account of the increasing GDP. However, the PCE price index increasing to 2.8 per cent YoY is a "hawkish" signal, leading to the US Fed keeping rates higher for longer, leading to US bonds becoming more lucrative on account of higher yields.
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Crude Oil Prices Today
On January 23, crude oil prices traded in the green as the price of West Texas Intermediate was around $59.83, up by $0.47 or 0.79 per cent. The price of Brent Crude was around $64.55 up by $0.49 or 0.76 per cent in the early hours of the day.
Gold Prices On January 23
Physical gold prices slipped in the early hours of January 23 as the price of 24 karat gold was Rs 15,430 per gram, the price of 22 karat purity gold was around Rs 14,144 per gram and the price of 18 karat gold was around Rs 11,572 per gram.
Q3FY26 Results
On January 23 as many as 58 companies are scheduled to announce their Q3FY26 results. The companies announcing their results today include heavyweights such as BPCL, Adani Green Energy, JSW Steel, IndusInd Bank and Shriram Finance.
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Asian Indices Trade In The Green
On January 23, major Asian indices traded in the green in the early hours of the session. The Nikkei 225, the Shanghai Composite and the Hang Seng traded with gains of per cent, 0.53 per cent, 0.27 per cent and 0.34 per cent respectively. On the other hand, the KOSPI traded higher by 0.96 per cent.
US Markets Extend Gains
US market indices closed the session with gains on January 22. The Nasdaq Composite finished higher by 0.91 per cent. On the other hand, the S&P 500 and the Dow Jones Industrial Average (DJIA) closed higher by 0.55 per cent and 0.63 per cent respectively.
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