Indian stock market: 7 key things that changed for market over weekend – Gift Nifty, Asian markets to US treasury yields | Stock Market News

Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open on a tepid note on Monday tracking sluggish trend in the global markets.

Asian markets traded lower today, while the US stock market ended lower last week dragged by losses in technology shares.

This week, investors will closely monitor key stock market triggers, including the first set of December quarter updates for FY25, auto sales data, domestic and global macroeconomic data, flow of foreign funds, and other key global market cues.

On Friday, the Indian stock market ended higher led by banking and auto heavyweights.

The Sensex gained 226.59 points, or 0.29%, to close at 78,699.07, while the Nifty 50 settled 63.20 points, or 0.27%, higher at 23,813.40.

“With no significant triggers in the near term, markets are likely to remain range-bound. Pre-quarterly business updates to be released in the first week of January 2025 will provide insights into the upcoming result season and would be keenly tracked by the markets,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded lower on Monday tracking a fall in Wall Street on Friday, amid losses in technology shares. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2%, but is still 16% higher for the year.

Japan’s Nikkei 225 fell 0.21%, while the Topix traded around the flatline. South Korea’s Kospi declined 0.3%, while the Kosdaq dropped 0.41%.

Gift Nifty Today

Gift Nifty was trading around 23,986 level, a discount of nearly 6 points from the Nifty futures’ previous close, indicating a tepid start for the Indian stock market indices.

Wall Street

US stock market ended lower on Friday amid profit-taking across the board.

The Dow Jones declined 333.59 points, or 0.77%, to 42,992.21, while the S&P 500 dropped 66.75 points, or 1.11%, to finish at 5,970.84. The Nasdaq Composite ended 298.33 points, or 1.49%, lower at 19,722.03.

For the week, the S&P 500 gained 0.7%, the Dow rose 0.36% and the Nasdaq added 0.75%.

Tesla shares plunged 5%, Nvidia stock price declined 2.1% while Alphabet, Amazon.com and Microsoft all slipped more than 1.5%. Amedisys shares rallied 4.7%, and Lamb Weston share price rose 2.6%.

Dollar

The Japanese yen traded around five-month lows against a dollar underpinned by rising US yields. The yen was changing hands at 157.71. The US dollar index measure against major rivals was flat at 107.98, Reuters reported. The euro stood at $1.0429. For the month, the dollar index is up 2.3%, bringing year-to-date gains to 6.6%.

US Treasury Yields

US 10-year Treasury yields traded near eight-month highs at 4.631% and are ending the year around 75 basis points above where they started, even though the US Federal Reserve delivered 100 basis points of cuts to cash rates.

Gold Prices

Gold prices rose as conflict in the Middle East lifted bullion’s safe-haven appeal. Spot gold rose 0.1% to $2,622.93 per ounce, while US gold futures gained 0.2% to $2,637.30.

Crude Oil Prices

Crude oil prices traded lower in thin holiday trade as traders awaited more economic data from China and the US later this week.

Brent crude futures fell 6 cents to $74.11 a barrel, while the more active March contract was at $73.73 a barrel, down 6 cents. US West Texas Intermediate crude dropped 8 cents to $70.52 a barrel.

(With inputs from Reuters)

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