5 things that changed for market overnight: Gift Nifty, US Fed policy to global market cues for Sensex today
Indian stock market indices Sensex and Nifty50 are expected to open lower on Thursday tracking weakness in global peers. The Asian markets traded lower, while the US markets ended in the red after the US Federal Reserve Chair Jerome Powell announced a hawkish monetary policy. The US Fed kept the benchmark interest rates unchanged at a 22-year high of 5.25% to 5.5%, but said it will raise interest rates one more time this year.
“We expect the market to remain cautious in the near term amid major events, while profit booking in the broader market is likely to continue. Apart from the US Fed rate outcome, two other large central banks i.e. BOE & BOJ are scheduled to announce their policy decision on Thursday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today: Asian markets traded lower on Thursday following overnight fall in US stocks after the US Fed’s interest rate decision. Australia’s S&P/ASX 200 declined 0.21%. Japan’s Nikkei 225 dropped 0.44% as the Bank of Japan begins its two-day monetary policy meeting.
The Topix fell 0.21%. South Korea’s Kospi fell 0.5% and the Kosdaq lost 0.37%. Hong Kong’s Hang Seng index futures traded higher at 17,958, compared to the HSI’s close of 17,885.60.
Meanwhile, Gift Nifty was trading at around 19,857 as against Nifty futures’ previous close of 19,972, indicating a negative start for the Indian benchmark equity indices. The US stock market indices ended lower on Wednesday after the Federal Reserve kept key interest rates unchanged, but said it could hike rates again this year. The Dow Jones Industrial Average fell 76.85 points, or 0.22%, to 34,440.88, while the S&P 500 declined 41.75 points, or
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