6 things that changed for market overnight: Gift Nifty, US Services PMI to global market cues for Sensex today
Indian stock market is expected to open lower on Thursday tracking weak global cues amid strength in US dollar and surging crude oil prices. Asian markets were mixed, while US stock market ended in the red as stronger economic data raised concerns that interest rates will remain elevated for longer. The domestic benchmark equity indices ended higher on Wednesday, their fourth consecutive session of gains.
“Going ahead, the market is likely to trade in a broader range with positive bias given strong domestic factors, though persistent FII selling and poor monsoon is a worry. Further concern over slowing global economy and interest rate hikes could keep weighing on the market and bring in intermittent profit booking," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Here are key global market cues for Sensex today: Asian stock markets traded mixed on Thursday following overnight selloff on Wall Street and ahead of key trade data from China and Australia.
Japan’s Nikkei 225 traded marginally higher and the Topix gained 0.1%. South Korea’s Kospi declined 0.12%, while the Kosdaq rose 0.35%. Hong Kong’s Hang Seng index futures traded at 18,449, compared with the HSI’s close of 18,449.98.
Australia’s S&P/ASX 200 fell 0.45%. Meanwhile, Gift Nifty was trading at around 19,625 as compared with Nifty futures’ previous close of 19,665, indicating a lower start for the Indian benchmark indices. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 7th September The US stock market ended lower on Wednesday after stronger-than-expected services sector data raised concerns that the US Federal Reserve might keep interest rates higher for longer amid still sticky inflation.
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