Indian stock market: 7 key things that changed for market overnight – Gift Nifty, US home sales data to gold prices | Stock Market News

Indian stock market: Indian equity benchmark indices, Sensex and Nifty 50, are expected to remain volatile on Thursday ahead of monthly futures & options (F&O) expiry, amid a mixed trend in the global markets.

Asian markets traded higher, while the US stock market ended mixed overnight with the Dow Jones ending its four-day gaining streak.

Market participants will focus on weekly US jobless claims and the August US personal consumption expenditure (PCE) index this week.

On Wednesday, the Indian stock market indices ended higher, with the benchmark Nifty 50 closing above the 26,000 level for the first time.

The Sensex gained 255.83 points, or 0.30%, to close at 85,169.87, while the Nifty 50 settled 63.75 points or, 0.25%, higher at 26,004.15.

“Markets made a new all-time high for the sixth consecutive session supported by positive global cues and strong domestic flows. We expect the Nifty 50 to continue its upwards journey, amid monthly derivative expiry on Thursday which may induce some volatility,” 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 higher on Thursday, with the Chinese markets extending their winning streak for the fifth straight session.

Japan’s Nikkei 225 rallied 1.7%, while the Topix gained 1.2%. South Korea’s Kospi surged 1.77%, and the Kosdaq rose 1.51%. Hong Kong’s Hang Seng index futures indicated a higher opening, set for a third straight day of gains. Mainland China’s CSI 300 hit its highest levels in almost two months.

Gift Nifty Today

Gift Nifty was trading around 26,045 level, a premium of nearly 40 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Wall Street

US stock market ended mixed on Wednesday with the blue-chip Dow Jones slipping after hitting record highs, snapping four-day gaining streak.

The Dow Jones Industrial Average declined 293.47 points, or 0.70%, to 41,914.75, while the S&P 500 fell 10.67 points, or 0.19%, to 5,722.26. The Nasdaq Composite closed 7.68 points, or 0.04%, higher at 18,082.21.

Nvidia stock price gained 2.14%, while Apple shares fell 0.52%. Meta stock price gained 0.88% to a record high of $568.31. Meta shares rallied over 2% after hours. KB Home slipped 5.35%, Hewlett Packard Enterprise shares surged 5.14%, while Ford and General Motors stock price fell over 4%.

US New Home Sales

Sales of new US single-family homes fell less than expected in August. New home sales decreased 4.7% to a seasonally adjusted annual rate of 716,000 units last month. The sales pace for July was revised higher to 751,000 units from a previously reported 739,000 units. There were also upward revisions to May and June sales data. Economists polled by Reuters had forecast new home sales, which account for 15.6% of US home sales, falling to a rate of 700,000 units.

Gold Price Today

Gold prices steadied after hitting a record high in the previous session. Spot gold held its ground at $2,656.60 per ounce, Reuters reported. Bullion hit a record high of $2,670.43 on Wednesday. US gold futures edged 0.2% lower to $2,680.00.

Oil Prices

Crude oil prices were little changed after falling over 2% in the previous session. Brent crude oil rose 0.07% to $73.51 a barrel, while the US West Texas Intermediate (WTI) crude futures added 0.03% to $69.71.

Dollar, Treasury Yields

US dollar bounced back, while the Treasury yields also rose. The dollar index rose 0.68% to 100.91 after falling earlier to 100.21, which was the weakest since July 2023. The greenback gained 1.03% to 144.68 Japanese yen and reached 144.75, the highest since September 3, Reuters reported. The dollar was last up 0.33% at 7.033 yuan in offshore trading.

US 10-year yields gained 4.9 basis points to 3.784%. Since the September 18 rate cut, 10-year yields have risen about 3 bps.

(With inputs from Reuters)

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