6 things that changed for market overnight: Gift Nifty, ECB rate hike to global market cues for Sensex today
Indian stock market is expected to open higher Friday led by positive global cues amid improved domestic investor sentiment. Asian markets traded higher, while the US stock market ended with gains overnight amid easing fears of recession in the world’s largest economy. On Thursday, the domestic benchmark equity indices ended at record high level with the Nifty closing above 20,100-mark.
“We expect the market to maintain its positive trend on the back of strong domestic macroeconomic data. However, bouts of volatility cannot be ruled out given mixed global cues. Markets would track US PPI and retail sales data which would be important for the US Fed rate decision next week," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
Here are key global market cues for Sensex today: Asian stock markets traded higher on Friday following overnight gains on Wall Street and ahead of the release of key economic data from China. China will release August data for its unemployment rate, retail sales, house prices and urban investment. Japan’s Nikkei 225 rallied 1.06% and the Topix gained 0.98%.
South Korea’s Kospi rose 0.65%, while the Kosdaq traded flat. Hong Kong’s Hang Seng index futures traded higher at 18,171, compared to the HSI’s last close of 18,047.92. Australia’s S&P/ASX 200 jumped 1.56%.
Meanwhile, Gift Nifty was trading higher at 20,226, as against Nifty futures’ previous close of 20,187, indicating a positive start for the Indian equity indices. US stock market indices ended higher on Thursday after hotter-than-expected economic data eased recession worries without raising fears of a US Federal Reserve interest rate hike next week. The S&P 500 ended 0.84% higher at 4,505.17 points, while Nasdaq
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