Indian stock market: 10 key things that changed for market over weekend - Gift Nifty, Iran-Israel tensions to inflation
Read here: Week Ahead: Q4 Results, macro data, Israel-Iran conflict, global cues among key market triggers this week On Friday, the Indian stock market indices ended a percent lower each dragged by selling across the board amid weak global cues. The Sensex plunged 793.25 points, or 1.06%, to close at 74,244.90, while the Nifty 50 settled 234.40 points, or 1.03%, lower at 22,519.40. “Indian equities could see temporary short-term headwinds from the US Fed easing being pushed into CY25 and hardening commodity prices due to adverse geopolitics.
Fed rates have minimal impact as the India story is largely internally driven with a capex turnaround and a recovery in domestic manufacturing. A large and sustained commodity price rally is a more material risk, but that looks unlikely for now," said Seshadri Sen, Head Of Research And Strategist, Emkay Global Financial Services. He believes the upcoming Q4FY24 results season is seen to be on track, especially in sectors like consumer discretionary, and this is reflected in resilient FY25 EPS forecasts.
“We maintain our positive view on markets with a year-end Nifty target of 24,000 and expect SMIDs to continue their outperformance," Sen added. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 15 Here are key global market cues for Sensex today: Asian markets slipped on Monday tracking losses in US equities amid ratcheting tensions in the Middle East. Japan’s Nikkei 225 declined 1.28%, while the Topix dropped 0.97%.
South Korea’s Kospi fell 0.92% and the Kosdaq plunged 1.58%. Hong Kong’s Hang Seng index futures indicated a weak opening. Read here: Asian Stocks Fall in Wake of Iran Attack on Israel: Markets Wrap Gift Nifty was trading around the
. Read more on livemint.com
