5 things that changed for market over the weekend: Gift Nifty, US Fed, China stimulus, to global cues for Sensex today
Indian stock market is likely to open higher on Monday led by positive global cues amid gains in Asian and US peers. This week, investors will eye a host of stock market triggers including the much-awaited annual general meeting (AGM) of oil-to-telecom conglomerate Reliance Industries, macroeconomic data, global cues, and more. In the week gone by, Indian stock market consolidated in a range and settled lower for the fifth successive week, the longest streak since April 2022, amid weak global cues.
“Domestic markets came under pressure after RBI meeting minutes showed concern over rising inflation and outlook over excess liquidity. Also, investors were cautious ahead of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium. We continue to expect Nifty to be in a narrow range due to lack of positive triggers.
In the meantime, niche mid and small cap sectors are likely to remain in action," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — August 28 Here are key global market cues for Sensex today: Asian markets traded higher on Monday after China announced new measures to support its ailing markets. However, cautiousness prevailed ahead of readings on US jobs and inflation.
MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.2%, having eked out minor gains last week to break a three-week losing streak, Reuters reported. Japan’s Nikkei 225 gained 0.93% and the Topix rose 0.89%. South Korea’s Kospi added 0.41%, while the Kosdaq rallied 0.7%.
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