Market Bizzz

Inflation and the U.S. presidential election will be the biggest drivers of global markets this year, while liquidity challenges are a growing focus, according to traders surveyed by JPMorgan.

The benchmark Nifty 50 ended 0.4% down at 21771.70 points, and the Sensex closed 0.5% lower at 71731.42 points. On the other hand, the Nifty PSE index closed 2% higher at 9189.20 points.

Asian shares edged up on Tuesday thanks to a bounce in battered Chinese markets, although investors were cautious after a slide on Wall Street amid diminishing expectations of a near-term Federal Reserve rate cut, which in turn underpinned the dollar.

India’s $4 trillion stock market is pulling in billions of dollars of domestic and foreign money as investors flock to a fast-growing alternative to China, brushing aside risks around overpriced shares, upcoming elections and regulatory uncertainty.

Gold prices edged lower on Monday, as the dollar and Treasury yields jumped after a blowout U.S. jobs report dashed hopes for early interest rate cuts from the Federal Reserve.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.