5 things that changed for market overnight: Gift Nifty, China slowdown to global market cues for Sensex today
Indian stock market is expected to open lower on Tuesday following weakness in Asian markets ahead of key economic data releases in the region. The US markets were shut for a holiday. The Reserve Bank of Australia will announce its interest rate decision, while the purchasing managers index readings from China, India and Hong Kong will also be released today.
Thailand and the Philippines will release inflation data. The Indian benchmark indices, Sensex and Nifty, ended higher on Monday supported by positive global cues amid hopes that the US Federal Reserve may not hike rates in September. “Going ahead, domestic positives should continue to support indices with broader market sustaining momentum.
Sectoral rotation would continue with niche and underperforming sectors likely to do well. Markets would await Services PMI data from Europe, UK and India that would be important for the market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Here are key global market cues for Sensex today: Asian markets traded lower amid key economic data releases across the region and as investors focus on China’s efforts to boost its ailing economy.
Japan’s Nikkei 225 and Topix were trading just below the flatline. South Korea’s Kospi fell 0.19%, while the Kosdaq was flatline after the country’s August inflation rate was higher than expected at 3.4%. Hong Kong’s Hang Seng index futures were trading lower at 18,719, compared to the HSI’s close of 18,844.16.
Australia’s S&P/ASX 200 declined 0.45%. Meanwhile, Gift Nifty was trading lower at 19,580 as compared to Nifty futures’ previous close of 19,614, indicating a negative start for the Indian benchmark indices. Also Read: ‘Sensex can potentially swing 5% to
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