1180: Marketbuzz Podcast with Sudarshan Kumar: Sensex, Nifty 50 likely to open higher amid mixed global cues

Indian benchmark indices, Sensex and Nifty 50, are likely to open higher in the trading session of January 24, amid mixed cues from the global market. The GIFT Nifty is indicating a start with healthy gains with investors keeping an eye on companies that will report quarterly financial results.

Asian shares rose in the morning on optimism that Chinese authorities will offer support for its stock markets, which have plummeted to multi-year lows, while a hawkish tilt from the Bank of Japan lifted the yen. The MSCI's broadest index of Asia-Pacific shares outside Japan was 0.27% higher. Still, the index is down 5% in January, set for its worst monthly performance since August.

Overnight in the US, NASDAQ and S&P recorded minor gains but closed at record highs while the blue chip index Dow Jones snapped a three day gaining streak to close in the red.

In the previous domestic session, pain was seen in the broader markets with the Nifty Midcap index recording its biggest single-day drop in a month. That fall led to the erosion of ₹8 lakh crore in investor wealth. HDFC Bank contributed to almost 50% of the Nifty Bank’s fall.

Bajaj Auto Balkrishna Industries, TVS, Canara Bank, Tata Steel and Tech Mahindra are among the firms that will report quarterly earnings later in the day. 

Tune in to the Marketbuzz Podcast for more cues