5 things that changed for market overnight: Gift Nifty, Jerome Powell’s speech to global market cues for Sensex today
Indian stock market is expected to open lower on Friday tracking losses in global peers amid a rise in US Treasury yields as traders await Federal Chairman Reserve Jerome Powell’s speech for clues on the interest rate outlook. Asian markets traded lower, while US stocks ended in the red on Thursday as investors sentiment turned cautious. On Thursday, the Indian benchmark equity indices, Sensex and Nifty, closed lower on profit booking in shares of select heavyweights.
“Domestic equities pared some gains amid profit booking after 3 days of positive close. All eyes would be on the outcome of the Jackson Hole meeting, which would provide some direction on interest rates going forward. Nifty in the meantime is expected to remain in a narrow range with some stock-specific action in the broader market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 25th August Here are key global cues for Sensex today: Asian markets declined on Friday as investors remained cautious ahead of the central bankers’ comments at the Jackson Hole meeting, including that by US Federal Reserve chair Jerome Powell. Japan’s Nikkei 225 plunged 1.69% and the Topix fell 0.9%. South Korea’s Kospi declined 1.04% and the Kosdaq dropped 0.8% Hong Kong’s Hang Seng index futures were trading lower at 18,053 as compared to the HSI’s close of 18,212.17.
Australia’s S&P/ASX 200 fell 1.19%. Gift Nifty was trading at 19,322 as compared to Nifty futures’ previous close of 19,390, indicating a negative start for the Indian benchmark indices. US stock indices ended over a percent lower on Thursday amid cautiousness ahead of Federal Reserve Chair Jerome
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