5 things that changed for market overnight: Gift Nifty, US inflation to global market cues for Sensex today
Indian stock market is expected to open higher on Thursday following positive global cues. Gains in Asian markets after the US stock indices closed mixed overnight, may support domestic equities. On Wednesday, the domestic equity indices ended higher due to upbeat macroeconomic data amid global signals being subdued.
The benchmark Nifty ended above 20,000-mark for the first time ever. “Market would react to US inflation data that would have a bearing on the US Federal Reserve interest rate decision next week. Overall, we would suggest investors to shift their focus from mid and small caps to large caps in the near term, as the risk-reward is favourable over there," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Asian markets traded higher on Thursday following mixed cues from Wall Street after the release of US inflation data. Japan’s Nikkei 225 gained 0.5% and the Topix rose 0.4%. South Korea’s Kospi added 0.43%, while the Kosdaq was 0.84% higher.
Hong Kong’s Hang Seng index futures were trading higher at 18,042, compared to the HSI’s close of 18,009.22. Australia’s S&P/ASX 200 was marginally higher ahead of August unemployment figures. Meanwhile, Gift Nifty was trading higher at 20,180 as compared to Nifty futures’ previous close of 20,129, indicating a positive start for the Indian benchmark indices.
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