Indian stock market: 8 key things that changed for market overnight – Gift Nifty, US inflation to Hindenburg shut down | Stock Market News

Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Thursday, following positive global market cues.

Asian markets rallied, while the US stock market ended higher overnight after a decline in US core inflation.

On Wednesday, the Indian stock market ended higher for the second consecutive session amid buying in index heavyweights.

The Sensex gained 224.45 points, or 0.29%, to close at 76,724.08, while the Nifty 50 settled 37.15 points, or 0.16%, higher at 23,213.20.

“The market is still bruised by persistent FII selling in the current month so far, while renewed uptick in oil prices has been holding back investors from taking any longish equity bets. Concerns over inflationary policies under President-elect Donald Trump are also adding to the cautious outlook. Investors also remained on high alert ahead of US CPI inflation reports on Wednesday,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher following an overnight rally on Wall Street.

Japan’s Nikkei 225 gained 0.61%, while the Topix rose 0.23%. South Korea’s Kospi rallied 1.16% and the Kosdaq index surged 1.65%. Hong Kong’s Hang Seng index futures indicated a stronger opening.

Gift Nifty Today

Gift Nifty was trading around 23,406 level, a premium of nearly 140 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Wall Street

US stock market ended higher on Wednesday, with all three major indexes registering their biggest daily percentage gains in more than two months.

The Dow Jones Industrial Average rallied 703.27 points, or 1.65%, to 43,221.55, while the S&P 500 surged 107.00 points, or 1.83%, to 5,949.91. The Nasdaq Composite closed 466.84 points, or 2.45%, higher at 19,511.23.

JPMorgan shares rose 1.97%, Wells Fargo stock jumped 6.69% and Goldman Sachs share price rallied 6.02%. Citigroup stock price surged 6.49%. Nvidia stock price gained 3.4%, while Microsoft and Amazon shares rallied 2.5% each.

US Inflation

US consumer prices increased slightly more than expected in December amid higher costs for energy goods. The consumer price index rose 0.4% last month after climbing 0.3% in November. In the 12 months through December, the CPI advanced 2.9% after increasing 2.7% in November. Economists polled by Reuters had forecast the CPI gaining 0.3% and rising 2.9% year-on-year.

Hindenburg Disbanded

Hindenburg Research, the short-seller behind Adani Group shares sell-off, is being “disbanded”. Its founder Nate Anderson said in a note, “As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research.”

Israel-Hamas Ceasefire

Israel and Hamas agreed to a ceasefire deal, temporarily pausing the devastating 15-month Gaza war. The development came after weeks of painstaking negotiations in Qatar. Mediators indicate that the deal promises the release of dozens of hostages held by Hamas in phases, and the release of hundreds of Palestinian prisoners in Israel.

Japan Wholesale Inflation

Japan’s wholesale prices rose 3.8% in December from a year earlier, central bank data showed. The rise in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, matched a median market forecast. It followed a revised 3.8% annual increase in November. An index measuring yen-based import prices rose 1.0% in December from a year earlier after a 1.2% drop in November.

Gold Price Today

Gold prices hit more than one-month highs after US core inflation rose less than expected. Spot gold was flat at $2,695.84 per ounce, after hitting its highest since December 12 earlier in the session, while US gold futures gained 0.2% to $2,723.80.

(With inputs from Reuters)

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