5 things that changed for market overnight: Gift Nifty, US GDP among key global cues for Sensex today
Indian stock market is expected to open higher on Thursday amid positive global cues. Asian markets gained following overnight rally on Wall Street as weak US GDP data resurfaced expectations of a pause in interest rate hike by the US Federal Reserve. Meanwhile investors will watch for India’s April-June quarter GDP data set to be released later today.
India's gross domestic product (GDP) likely accelerated to 7.7% in the Q1FY24, recording the fastest annual pace in a year, driven by the services sector and greater capital expenditure. Here are key global market cues for Sensex today: Asian stock markets traded higher following overnight gains on Wall Street. Japan released its factory output data for July, while China will release the data for August.
Japan’s Nikkei 225 rose 0.33% and the Topix gained 0.31%. South Korea’s Kospi added 0.23% and the Kosdaq was up 0.36%. Hong Kong’s Hang Seng index futures were higher at 18,544, compared with the HSI’s close of 18,482.86.
Australia’s S&P/ASX 200 gained 0.11%. Meanwhile, Gift Nifty was trading at 19,373 as against Nifty futures’ previous close of 19,340, indicating a mildly positive opening for the Indian benchmark indices. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 31st August The US stock market ended higher on Wednesday after the weak GDP data raised expectations of a pause in interest rate hike by the Federal Reserve.
The S&P 500 index reached its highest in nearly three weeks, while the Nasdaq logged its highest close since August 1. The S&P 500 rose 0.38% to end at 4,514.87, while the Nasdaq gained 0.54% to 14,019.31. The Dow Jones Industrial Average ended 0.11% higher at 34,890.24.
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