Indian stock market: 6 key things that changed for market overnight - Gift Nifty to upbeat US retail sales data

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Sensex cracked 1,628.01 points, or 2.23%, to end at 71,500.76, while the Nifty 50 ended 460.35 points, or 2.09%, lower at 21,571.95. “Hawkish Fed commentary, escalating tension in the Middle East, and a spike in bond yield dented investor sentiment. On the domestic front, the market would look at quarterly results for stock-specific action and we expect indices to consolidate after a sharp sell-off," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — January 18 Here are key global market cues for Sensex today: Asian markets traded mixed on Thursday tracking overnight sell-off on Wall Street, with mainland Chinese shares touching a near-five-year low. Japan’s Nikkei 225 rose 0.29%, while the Topix gained 0.28%. South Korea’s Kospi was up 0.12% and the Kosdaq rose 0.39%.

Hong Kong’s Hang Seng index futures were flat. Gift Nifty was trading around 21,415 level as compared to Nifty futures’ previous close of 21,587, indicating a negative start for the Indian equity indices. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) US stock market indices ended lower on Wednesday, with the benchmark S&P 500 falling to its lowest in over a week, as Treasury yields spiked after strong December US retail sales data diminished hopes of early interest rate cut by the US Federal Reserve.

The Dow Jones Industrial Average dropped 0.25% to 37,266.67, while the S&P 500 fell 0.56% to end at 4,739.21. The Nasdaq ended 0.59% lower at 14,855.62. Among stocks, Amazon, Nvidia and Alphabet shares declined between 0.5% and 1%.