5 things that changed for market overnight: Gift Nifty, US stocks, Japan's jobless rate to global cues for Sensex today
Indian stock market is expected to open on a strong footing Tuesday led by positive global cues as Asian markets traded higher, while the US stocks also gained overnight. Investors await the release of key economic data this week that will guide the market going ahead. On Monday, the domestic benchmark equity indices Sensex and Nifty ended higher, snapping two-day losing streak, amid largely positive global cues after China announced steps to give a boost to its market.
“Markets are likely to remain in consolidation mode this week amidst key events including the release of domestic GDP data, monthly expiry, and domestic and global macroeconomic data. Also the 7% deficit in the Jun-Sept monsoon could keep upside limited," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Here are key global market cues for Sensex today: Asian markets traded higher following overnight gains on Wall Street ahead of key economic data releases.
Japan’s Nikkei 225 gained 0.28% and the Topix rose 0.15%. South Korea’s Kospi added 0.27% and the Kosdaq gained 0.17%. Hong Kong’s Hang Seng index futures were higher at 18,300 as compared with the HSI’s close of 18,130.74 Australia’s S&P/ASX 200 was up 0.11%.
Meanwhile, Gift Nifty was trading at 19,350 as against Nifty futures’ previous close of 19,314.55, indicating a positive start for the Indian benchmark indices. US stocks ended higher while Treasury yields retraced on Monday ahead of key economic data that would give cues on the Federal Reserve’s interest rate decision in September. The Dow Jones Industrial Average rose 217.19 points, or 0.63%, to 34,559.98, while the S&P 500 gained 27.6 points, or 0.63%, to 4,433.31.
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