6 things that changed for the stock market overnight - Gift Nifty to spike in US Treasury yields
BSE Sensex closed 551.07 points, or 0.83%, lower at 65,877.02, while the NSE Nifty 50 declined 140.40 points, or 0.71%, to settle at 19,671.10. “Profit booking ensued in Indian markets, spurred by weak global sentiments and escalating Middle East tensions. A sudden rise in the tension has led to instability in energy prices.
While the US bond yields were cautiously placed, awaiting the Fed chair’s speech. The initial Q2 earnings disappointments by the IT & financials sector may have prompted attention in the domestic markets," said Vinod Nair, Head of Research at Geojit Financial Services. All these factors are presumed to be a knee jerk reaction as the total outlook on the domestic market is stable, underpinned by a healthy Q2 result forecast and favourable fiscal position, he added.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — October 19 Here are key domestic and global market cues for Sensex today: Asian markets traded lower on Thursday following overnight losses on Wall Street as the US Treasury yields jumped to multiyear high. Australia’s S&P/ASX 200 traded 1.33% lower. Japan’s Nikkei 225 declined 1.42%, while the Topix fell 1.18%.
South Korea’s Kospi plunged 1.62% and the Kosdaq dropped 2.22%. Hong Kong’s Hang Seng index futures were lower at 17,569, compared with the HSI’s close of 17,732.52. Gift Nifty was trading around 19,568 level, as against Nifty futures’ previous close of 19,666, indicating a weak start for the Indian benchmark indices.
US stock market indices ended sharply lower on Wednesday as Treasury yields rose. Mounting tensions in the Middle East stoked risk aversion. The Dow Jones Industrial Average dropped 332.57 points, or 0.98%, to 33,665.08, while the S&P 500
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