6 things that changed for market overnight: Gift Nifty, Nvidia share rally to global market cues for Sensex today
Indian stock market is expected to open higher on Thursday following a rally in global peers. Asian shares gained in the morning trade, while US stock ended higher overnight on renewed hopes that central banks will pause their interest rate hikes after weak economic data. On the domestic front, the Indian equity market rallied on Wednesday with the benchmark Nifty closing above 19,400 level.
However, investors look forward to central bankers’ gathering at Jackson Hole on Friday for further cues on monetary policies. “Global markets have restrained from making significant moves as they await the outcome of the central bankers' gathering at Jackson Hole scheduled for Friday. With the earnings season nearing its end, the heightened possibility of another rate hike in the US, along with the resultant increase in bond yields, are expected to keep the global market’s volatility high," said Vinod Nair, Head of Research at Geojit Financial Services.
On the domestic front, sentiments remained positive, backed by strong demand in the banking sector, though IT and pharma limited the gains, Nair added. Here are key global market cues for Sensex today Asian markets traded higher on Thursday following overnight gains on Wall Street amid rally in tech stocks. Investors in the region await central bank rate decisions from South Korea and Indonesia, which are widely expected to hold their benchmark policy rates unchanged.
Japan’s Nikkei 225 gained 0.44%, while the Topix rose 0.13%. South Korea’s Kospi rallied 1.04% and the Kosdaq surged 1.55%. Hong Kong’s Hang Seng index futures were trading higher at 17,973 as compared with the HSI’s close of 17,845.92.
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