5 things that changed for the stock market overnight - Gift Nifty to drop in US megacap stocks
Sensex surged 1,383.93 points, or 2.05%, to end at 68,865.12, while the Nifty closed 418.90 points, or 2.07%, higher at 20,686.80. “We expect market sentiment to strengthen further as the ongoing pre-election rally is quite strong now. Given the government’s focus approach towards long-term capex across key areas, we expect BFSI, Industrials, Real Estate, Auto and Consumer Discretionary to do well going forward," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 5 Here are key global market cues for Sensex today: Asian markets traded lower on Tuesday following an overnight drop in Wall Street indices and amid a slew of economic data release from across the region. Japan’s Nikkei 225 dropped 0.67%, while the Topix fell marginally. South Korea’s Kospi declined 0.55% and the Kosdaq fell 0.62%.
Hong Kong’s Hang Seng index futures pointed at a slightly stronger open. The Gift Nifty was trading around 20,815 level as against Nifty futures’ previous close of 20,804, indicating a mildly positive start for the Indian benchmark indices. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The US stocks ended lower on Monday amid rise in treasury yields.
The S&P 500 receded, with megacaps Microsoft, Apple, Nvidia and Amazon shares falling over 1%. The Dow Jones Industrial Average declined 0.11% to 36,204.44, while the S&P 500 fell 0.54% to end at 4,569.78. The Nasdaq ended 0.84% lower at 14,185.49.
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