6 things that changed for the stock market overnight - Gift Nifty, US corporate earnings to China stimulus plan
Sensex tanked 825.74 points, or 1.26%, to settle at 64,571.88, while the Nifty plunged 260.90 points, or 1.34%, to 19,281.75. Tensions over regional conflict in the Middle East, worries over more rate hikes by the US Federal Reserve for an extended period and mixed corporate earnings so far spooked markets. “We expect the market to remain volatile amid rise in global uncertainties while the stock specific action is likely to continue in the market amid a busy results season.
Investors are advised to shift focus towards large-cap where valuations are comparatively comfortable," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Here are key global market cues for Sensex today: Asian markets traded mixed amid China stimulus plans after President Xi Jinping stepped up support for the economy. Japan’s Nikkei 225 rose 0.77% and the Topix gained 0.79%.
South Korea’s Kospi was flat, while the Kosdaq fell 0.21%. Hong Kong’s Hang Seng index futures were higher at 17,480. Australia’s S&P/ASX 200 eased 0.19%.
Gift Nifty was trading around 19,303 level, as compared to Nifty futures’ previous close of 19,263, indicating a higher opening for the Indian indices. Also Read: Buy or sell: Vaishali Parekh recommends three intraday stocks for today — October 25 US stock market indices ended higher on Tuesday as investor risk appetite improved amid strong corporate earnings and upbeat forecasts. The Dow Jones Industrial Average rallied 204.97 points, or 0.62%, to 33,141.38 and the S&P 500 rose 30.64 points, or 0.73%, to 4,247.68.
The Nasdaq Composite ended 121.55 points, or 0.93%, higher at 13,139.88. Among stocks, Verizon surged 9.3% and General Electric shares rose 6.5%. Coca-Cola share price gained 2.9%
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