6 things that changed for the stock market overnight - Gift Nifty to spike in US treasury yields
Sensex declined 316 points to end at 65,512, while the Nifty 50 fell 110 points to 19,529 on Tuesday. “Given the global concerns of more US rate hikes along with 16-year high US 10-year bond yield and 7-month high Dollar Index, the sentiments remain dented and thus is resulting in profit booking. In the near term, we expect this weakness to persist with stock-specific action," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Investors would continue to take cues from economic data to be release globally and domestically with all eyes on RBI monetary policy due on October 6, he added. Also Read: Nifty 50, Sensex today: What to expect from stock market indices in trade on October 4 MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4% to its lowest since November, with Australian shares also hitting an 11-month trough and South Korea's Kospi back from a break with a 1.8% fall, Reuters reported. Here are key domestic and global market cues for Sensex today: Asian markets traded lower following overnight drop on Wall Street and a spike in treasury yields that hit its highest level in 16 years.
Japan’s Nikkei 225 plunged 1.45%, while the Topix dropped 1.31%. South Korea’s Kospi fell 2.16% and the Kosdaq dipped 1.17%. Hong Kong’s Hang Seng index futures were at 17,322 compared to the HSI’s close of 17,331.22.
China’s markets are shut for a weeklong holiday. Australia’s S&P/ASX 200 traded 0.42% lower. Meanwhile, Gift Nifty was trading at 19,434 as against Nifty futures’ previous close of 19,563, indicating a gap-down start for the Indian benchmark indices.
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