Indian stock market: 7 key things that changed for market overnight – Gift Nifty, CPI inflation to HCL Tech Q3 Results | Stock Market News

Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Tuesday tracking mixed global market cues.

Asian markets traded largely higher, while the US stock market ended mixed overnight, with selling seen in tech stocks.

On Monday, the Indian stock market crashed amid heavy selloff across sectors led by rising crude oil prices, depreciating rupee and sustained foreign capital outflows.

The Sensex cracked 1,048.90 points, or 1.36%, to close at 76,330.01, while the Nifty 50 settled 345.55 points, or 1.47%, lower at 23,085.95.

“Wide-spread selling across the sectors fuelled along with massive exits in mid and small-cap stocks further worsened the sentiment. Rising crude oil prices would raise concerns of a spike in domestic inflation, which could further delay any rate cut hopes from the RBI in the near to medium term,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded mixed on Tuesday tracking a similar trend overnight on Wall Street.

Japan’s Nikkei 225 fell 0.73% and the Topix dropped 0.34%. South Korea’s Kospi rose 0.4%, while the Kosdaq declined 0.62%. Hong Kong’s Hang Seng index futures indicated a higher opening.

Gift Nifty Today

Gift Nifty was trading around 23,280 level, a premium of nearly 118 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.

Wall Street

US stock market ended mixed on Monday, with the benchmark Nasdaq closing lower and S&P 500 bouncing off a two-month low.

The Dow Jones Industrial Average rallied 358.67 points, or 0.86%, to 42,297.12, while the S&P 500 rose 9.18 points, or 0.16%, to 5,836.22. The Nasdaq Composite closed 73.53 points, or 0.38%, lower at 19,088.10.

Nvidia share price fell 1.97% and Micron Technology stock declined 4.31%. Moderna shares plunged 16.8%, while CVS Health and Humana jumped about 7% each. UnitedHealth Group share price gained 3.93%, while Edison International tumbled more than 11.89%.

CPI Inflation

India’s retail inflation eased to a four-month low in December, driven by moderation in food prices. The Consumer Price Index (CPI)-based retail inflation rose 5.22% in December, down from 5.48% in November and 5.69% a year ago.

HCL Tech Q3 Results

HCL Technologies reported a net profit of ₹4,591 crore in Q3FY25, up by 8.4% QoQ. The IT giant’s revenue in Q3FY25 grew 3.6% QoQ to ₹29,890 crore, while revenue in USD terms was up 2.6% QoQ at $3,533 million. EBIT increased 8.6% QoQ to ₹5,821 crore, while EBIT margin improved by 90 bps to 19.6% from 18.7%, QoQ.

HCL Technologies raised its revenue growth forecast for full year FY25 to 4.5% – 5% in constant currency terms from 3.5% – 5% previously. HCL Tech also declared an interim dividend of ₹12 per share and a special dividend of ₹6 per share.

Direct Tax Collection

Strong growth in tax collection from both personal and corporate income helped the Central government to collect ₹16.9 trillion in direct tax revenue so far this financial year after adjusting for tax refunds, official data showed. The net direct tax collection growth of 15.9% so far this year exceeds the 12.8% growth rate that finance minister Nirmala Sitharaman had projected in her July budget after the national polls last year.

US Treasury Yields, Dollar

US Treasury 10-year yields touched 14-month highs, while the dollar index hit its highest level in more than two years, Reuters reported. The benchmark 10-year note yield touched a 14-month high of 4.805%. The dollar index, which measures the greenback against a basket of currencies, hit its highest in more than two years at 110.17 earlier in the session.

(With inputs from Reuters)

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