6 things that changed for the stock market over the weekend - Gift Nifty to selloff on Wall Street
Global market, including India, will take further cues from geopolitical developments, oil prices and bond yield fluctuations, along with earnings of major companies. “We expect earnings season to pick up pace in a truncated week which would direct the market trend along with global cues. On the global front, ECB (European Central Bank) will announce interest rate decision this week," Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, said.
Here are key domestic and global market cues for Sensex today: Asian markets traded lower on Monday as risks of a wider conflict in the Middle East dented investor sentiment ahead of a week of inflation data across Asia-Pacific region with data on US growth and inflation. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.1% to be near its lowest in almost a year. Japan’s Nikkei 225 fell 0.44% and the Topix eased 0.12%.
South Korea’s Kospi was flat, while the Kosdaq gained 0.51%. Hong Kong’s markets are closed for a holiday Monday. Australia’s S&P/ASX 200 declined 0.93%.
Gift Nifty was trading around 19,502 level as compared to Nifty futures’ Friday’s close of 19,523, indicating a weak start for the Indian equity indices. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — October 23 US stock market indices ended sharply lower on Friday, dragged by heavy selling in technology and financials, amid worries over more interest rate hikes and the escalation of the Israel-Hamas war. The Dow Jones Industrial Average declined 286.89 points, or 0.86%, to 33,127.28, while the S&P 500 dropped 53.84 points, or 1.26%, to 4,224.16.
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