Indian Stock Market: 10 things that changed overnight for the market – from Gift Nifty, Maharashtra exit poll to Nvidia’s earnings

Indian Stock Market: Domestic equity market indices, Sensex and Nifty 50, are expected to open on a cautious note on Thursday in view of weak global market cues.

Asian markets traded lower, while US stock markets closed mixed overnight amid concerns over escalating Russia-Ukraine tensions.

Geopolitical tensions once again flared up after Ukraine fired long-range British Storm Shadow missiles into Russian territory. On Tuesday, Ukraine launched US-made ATACMS missiles at Russia, and Russia announced it had lowered the nuclear strike threshold.

On the domestic front, investors will keep an eye on Maharashtra election results 2024, with most exit polls predicting the return of the Bharatiya Janata Party-led ‘Mahayuti’ government.

Indian stock market was closed On Wednesday, November 20 due to Maharashtra elections 2024.

On Tuesday, Indian equity benchmark indices closed higher, snapping a seven-day losing streak.

Sensex It closed 239.37 points or 0.31% higher at 77,578.38, while the Nifty 50 closed 64.70 points or 0.28% higher at 23,518.50.

“Markets were well positioned in the first half due to a recent oversold situation, but most of the gains were pared down to the closing stages as weak European market cues led investors to exercise caution as geopolitical tensions escalated between Ukraine and Russia . If the ongoing war escalates further, risk-off sentiment in equity markets could lead to extended selling,” said Prashant Tapase, senior VP (research), Mehta Equities Ltd.

Here are the key global market cues for Sensex today:

Asian market

Asian markets were trading lower after a soft trend on Wall Street overnight. Japan’s Nikkei 225 fell 0.67% and the Topix fell 0.22%. South Korea’s Kospi rose 0.13%, while the Kosdaq fell 0.58%. Hong Kong’s Hang Seng index futures indicated a weak start.

Give a nifty gift today

GIFT Nifty was trading around 23,575 levels, a premium of about 40 points from the previous close of Nifty futures, indicating a mild positive start for Indian stock market indices.

wall Street

The US stock market closed mixed on Wednesday, with the tech-heavy Nasdaq closing lower.

The Dow Jones Industrial Average rose 139.53 points, or 0.32%, to 43,408.47, while the S&P 500 rose 0.13 points, or 0.00%, to 5,917.11. The Nasdaq Composite dropped 21.32 points, or 0.11%, to 18,966.14.

Nvidia stock price fell 0.76% during the regular trading session and fell 2.5% after the bell, while Target shares fell 21.4%. Tesla’s share price fell 1.15% and Amazon.com’s share price fell 0.85%. Shares of MicroStrategy rose 10% and MARA Holdings rose 13.9%.

nvidia results

Nvidia stock price fell 0.76% during the normal trading session and fell 2.5% after the bell as the company reported its slowest revenue growth in seven quarters, failing to meet some investors’ lofty expectations. doing. Nvidia’s share price has nearly quadrupled so far this year and is up more than ninefold over the past two years.

US Federal Reserve

Federal Reserve Governor Michelle Bowman called for a cautious approach to any further interest rate cuts, noting that inflation remains a concern and the labor market remains strong, Reuters reports.

With inflation still elevated and progress toward the Fed’s 2% target appearing stalled, Bowman said, “I would prefer to proceed cautiously in bringing the policy rate down to better assess where we are ultimately.” “While recognizing how far from the point we are.” “We have not yet met our inflation target and are closely monitoring labor market developments.”

maharashtra exit poll results 2024

Most exit polls have predicted the return of the Bharatiya Janata Party-led ‘Mahayuti’ government with a clean sweep in the 288-member assembly in the Maharashtra elections 2024. The majority figure is 145. However, it should be noted that exit polls often get it wrong.

Gautam Adani accused of bribery, fraud in America

Gautam Adani, the billionaire chairman of conglomerate Adani Group, has been indicted in New York for his role in an alleged billion-dollar bribery and fraud scheme, Reuters reported. Dollar bond prices for Adani companies fell sharply in early Asian trading after the report.

rbi bulletin

India’s economic growth is expected to pick up in the current quarter after a slowdown in July-September, the Reserve Bank of India said in its monthly bulletin, citing a surge in private consumption during the festive period. RBI has estimated GDP growth in the third quarter at 7.6%, higher than the estimated 6.7% in the second quarter. Despite optimistic growth forecast, RBI expressed concern about rising core inflation.

gold prices

Gold prices rose for the fourth consecutive session on safe-haven demand amid the Russia-Ukraine war. Spot gold was trading 0.2% higher at $2,654.50 an ounce, while US gold futures rose 0.2% to $2,657.10.

dollar

The US dollar remained broadly strong on Thursday. The dollar index held steady at 106.56, above a one-week low in the previous session. The euro was flat at $1.054725, while sterling was up 0.07% at $1.2656. The dollar was down 0.33% at 154.91 yen.

(With inputs from Reuters)

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