5 things that changed for market over the weekend: Gift Nifty, oil prices, FII selling to global cues for Sensex today
Sensex and Nifty 50 ended lower for the fourth consecutive session on Friday weighed down by weak global cues as the US Treasury yields rose to their multi-year high levels and crude oil prices rose by about a percent. “We expect the market to remain under pressure in the near term given the global concerns. Thus, we suggest investors to have higher allocation towards defensive and large-caps.
Investors would look for economic data like US & UK GDP numbers, EU inflation, US & China Manufacturing PMI, and India’s Infrastructure output which is due this week for further direction," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 25 Here are key global market cues and domestic factors for Sensex today: Asian markets traded mixed, while Treasury yields gained as investors weighed the higher-for-longer stance by the US Federal Reserve. Investors will watch out for key inflation data across the Asian region this week.
Japan’s Nikkei 225 gained 0.24% and the Topix rose 0.16%. South Korea’s Kospi fell 0.24%, while the Kosdaq declined 0.94%. Hong Kong’s Hang Seng index futures were trading at 18,040, compared with the HSI’s close of 18,057.45.
Australia’s S&P/ASX 200 fell 0.45%. Meanwhile, Gift Nifty was trading at around 19,695 as against Nifty futures’ Friday’s close of 19,705, indicating a tepid start for the Indian benchmark indices. Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! The US stock market ended Friday’s volatile session lower with all three major stock indexes posting weekly losses.
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