Indian stock market: 10 key things that changed for market overnight - Gift Nifty, US inflation to rally in tech stocks
Sensex surged 354.45 points, or 0.47%, to close at 75,038.15, while the Nifty 50 settled 111.05 points, or 0.49%, higher at 22,753.80. “We expect the ongoing up-move to continue in the market. The broader market too is likely to continue its outperformance along with stock-specific action on the back of strong domestic flows and healthy business updates.
The technology sector is expected to be in focus as TCS will announce its Q4FY24 results on Friday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Here are key global market cues for Sensex today: Asian markets traded mixed on Friday tracking overnight movement on Wall Street and as investors await China trade data. Japan’s Nikkei 225 rose 0.51% and the Topix gained 0.53%.
South Korea’s Kospi fell 0.38%, while the Kosdaq added 0.62%. Hong Kong’s Hang Seng index futures indicated a weaker opening. Read here: Asian Stocks Edge Higher as Tech Lifts US Equities: Markets Wrap Gift Nifty was trading around the 22,675 level, a discount of nearly 130 points from the Nifty futures’ Wednesday’s close, indicating a gap-down start for the Indian stock market indices.
US stocks ended higher on Thursday, rebounding from sharp losses in the previous session, led by a rally in tech-related stocks. The Dow Jones Industrial Average eased 2.43 points, or 0.01%, to 38,459.08, while the S&P 500 rose 38.42 points, or 0.74%, to 5,199.06. The Nasdaq Composite closed 271.84 points, or 1.68%, higher at 16,442.20.
Amazon share price hit a fresh record high of $189.77 per share. The stock rose 1.7% to close at $189.05, surpassing its previous closing high of $186.57 set in July 2021. The FANG index of megacap momentum stocks gained 2.6%.
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